|
Gran Tierra Energy Inc - Calgary, Canada-based and South America-focused oil and gas company - Prices offering of an additional $100 million principle amount of previously issued 9.5% senior secured amortising notes due 2029, in a private placement to institutional buyers. Company previously had outstanding aggregate $487.6 million of 9.5% notes due in 2029. New notes will have same terms and provisions as original notes, apart from their issue price. Company expects to close the offering on February 6, and to receive net proceeds of approximately $88.3 million. Says notes will be guaranteed by certain of its subsidiaries. Plans to use proceeds to repay outstanding amounts borrowed under its existing credit facility, which will subsequently be terminated. Any remaining proceeds will be used for general corporate purposes; this may include appraising and developing exploration discoveries, as well as acquisitions. Current stock price: 450.80 12-month change: down 99% Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
