Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Gran Tierra Energy ( (GTE) ) has provided an update.
Gran Tierra Energy has launched an exchange offer inviting eligible holders of its outstanding US$716.34 million 9.500% Senior Notes due 2029 to swap them for new 9.500% Senior Secured Notes maturing in 2031, with an early participation incentive that provides a mix of cash and new notes totaling US$1,000 per US$1,000 of existing principal. Alongside the exchange, the company is soliciting consents to amend the existing indenture to strip most restrictive covenants, release existing collateral and adjust key terms, with the transaction contingent on majority noteholder participation, minimum 80% take-up, and new financing sufficient to fund up to US$125 million in cash consideration, signaling an effort to extend maturities, reshape its secured debt stack and loosen legacy covenant constraints.
More about Gran Tierra Energy
Gran Tierra Energy Inc. is an independent energy company focused on the exploration and production of oil and gas, with its shares listed on the NYSE American, TSX and LSE under the symbol GTE. The company operates primarily in Latin America and relies on the international debt markets to finance and manage its capital structure through senior notes and other secured obligations.
For detailed information about GTE stock, go to TipRanks’ Stock Analysis page.