Jaguar8 commented on a stock · Sep 14, 2024 08:41

NEWS

Gran Tierra Energy Inc. Announces Pricing of an Additional $150 Million Aggregate Principal Amount of its 9.500% Senior Secured Amortizing Notes due 2029

Gran Tierra Energy Inc. (NYSE American:GTE)(TSX:GTE)(LSE:GTE) has announced the pricing of an additional $150 million aggregate principal amount of its 9.500% Senior Secured Amortizing Notes due 2029. This is in addition to the previously outstanding $587,590,000 of Original Notes. The new Notes will have the same terms and provisions as the Original Notes, except for the issue date and price. Gran Tierra expects to close the offering on September 18, 2024, with net proceeds of approximately $136.0 million.
The company intends to use the net proceeds to finance the cash portion of the proposed acquisition of i3 Energy plc, with any remaining funds allocated for general corporate purposes. These may include additional capital for exploration development, debt repayment, working capital, or acquisitions.

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