Gran Tierra amends and extends credit agreement, revises interest

By Sarah Lizee

Olympia, Wash., Nov. 14 – Gran Tierra Energy Inc. entered into a ninth amendment to its credit agreement on Friday with Bank of Nova Scotia as administrative agent, according to an 8-K filed with the Securities and Exchange Commission.

The amendment extends the revolving credit maturity to Nov. 10, 2020 from Oct. 1, 2018, reaffirms the borrowing base as $300 million and amends the interest rate to Libor plus a spread of 215 basis points to 365 bps, depending on the company’s senior secured leverage ratio.

Gran Tierra is an oil and gas exploration and production company based in Calgary, Alta.

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