Gran Tierra prices new notes with wider spread

Gran Tierra prices new notes with wider spread

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Energy Colombia Canada

Gran Tierra said it has priced $300m in new eight-year bonds at 7.75%, a pick-up from the seven-year notes it sold at 6.5% in February last year. The Canadian oil company's 2025s were yielding just above 7% in the secondary market before the new notes came to market, according to a source close the deal. Gran Tierra said that it plans to use the net proceeds of $289m to pay off a revolving credit line and fund investments. The company got a $114m revolver to finance the acquisition an additional

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