By Rebecca Melvin
New York, Jan. 15 – GeoPark Ltd. priced $350 million of 5½% senior notes due 2027 (B+/B+) under Rule 144A and Regulation S, according to a company news release on Wednesday.
The notes are guaranteed by GeoPark Chile SpA and GeoPark Colombia S.L.U.
Demand for the new paper exceeded $2 billion and was oversubscribed by more than six times.
The proceeds of the deal will be used to finance a previously announced acquisition of Amerisur Resources plc and for general corporate purposes, including capital expenditures. They will be mandatorily redeemed if the Amerisur acquisition does not close by April 30.
GeoPark is an oil and gas exploration and production company operating in Colombia, Chile, Brazil, Peru, Ecuador and Argentina.
| Issuer: | GeoPark Ltd.
|
| Guarantors: | GeoPark Chile SpA and GeoPark Colombia S.L.U.
|
| Amount: | $350 million
|
| Maturity: | 2027
|
| Description: | Senior notes
|
| Coupon: | 5½%
|
| Announcement date: | Jan. 15
|
| Settlement date: | Jan. 17
|
| Expected ratings: | S&P: B+
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
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