GRAN TIERRA ENERGY INC. (GTE): debt financing — Gran Tierra Energy secures up to $175M prepayment from Trafigura; terminates existing credit facility

GRAN TIERRA ENERGY INC.

Terminated Credit and Guaranty Agreement dated April 16, 2025 with no material early termination penalties.
Entered amended prepayment agreement with Trafigura for additional advances up to $175M and an uncommitted accordion of $25M.
Proceeds to finance cash consideration for exchange offer or cash tender of 9.500% Senior Secured Amortizing Notes due 2029.
Prepayment includes financial covenants: asset coverage ratio of at least 150% and debt service coverage of at least 200%.
Sellers are subsidiaries Gran Tierra Energy Colombia GmbH, Gran Tierra Operations Colombia GmbH, Gran Tierra Energy Ecuador 1 GmbH, and Gran Tierra Energy Ecuador 2 GmbH.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GRAN TIERRA ENERGY INC. incurred credit facility of additional advances of up to $175 million, and an uncommitted accordion advance of up to $25 million with Trafigura PTE LTD and Trafigura Marketing Colombia S.A.S..

Instrument: credit facility
Principal: additional advances of up to $175 million, and an uncommitted accordion advance of up to $25 million
Counterparty: Trafigura PTE LTD and Trafigura Marketing Colombia S.A.S.
Event: incurrence

Exact text from the filing

collectively, the “Sellers”), and Trafigura PTE LTD and Trafigura Marketing Colombia S.A.S. (collectively, the “Buyers” and, together with the Sellers, the “Parties”) entered into several crude oil sale and purchase

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Source: SEC EDGAR

accession 0001104659-26-017084

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