By Wendy Van Sickle
Columbus, Ohio, May 20 – Gran Tierra Energy International Holdings Ltd. priced a $300 million issue of 7¾% eight-year senior notes (ratings B+/B) Monday.
Credit Suisse and BofA are the lead bookrunners.
Proceeds from the Rule 144A and Regulation S notes will be used to repay revolving credit facility borrowings, capex and general corporate purposes, according to a press release.
Calgary, Alta.-based Gran Tierra Energy International is a subsidiary of Gran Tierra Energy Inc. and has a focus on oil and gas development in Colombia.
| Issuer: | Gran Tierra Energy International Holding, Ltd.
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| Amount: | $300 million
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| Maturity: | May 23, 2027
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| Securities: | Senior notes
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| Bookrunners: | Credit Suisse and BofA
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| Coupon: | 7¾%
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| Trade date: | May 20
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| Settlement date: | May 23
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| Ratings: | S&P: B+
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| Fitch: B
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| Distribution: | Rule 144A and Regulation S
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