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Gran Tierra calls off bond swap

Gran Tierra calls off bond swap

June 23, 2022 | Hernán Goicochea
Canadian oil company cancels offer to exchange $600 mln in notes that mature in 2025 and 2027 for new 2029 bonds

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

Gran Tierra Energy, a Canadian oil and gas company with assets in Colombia and Ecuador, said Tuesday it has called off a bond swap for notes that mature in 2025 and 2027, according to a press release. Calgary-based Gran Tierra announced an offer in May to exchange $300 million in 6.25% 2025 bonds and $300 million in 7.25% 2027 notes for newly issued 8.75% 2029 bonds. Earlier this month, the company said in a press release that bondholders had tendered $111 million in 2025 notes, or 39.2% of the

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