Gran Tierra seeks noteholder consent to clear Maurel & Prom deal closing
GTE•Consent solicitation launched for note amendments
Gran Tierra Energy agreed on Aug. 5 to sell its Gran Tierra Energy CI GmbH unit to Maurel et Prom’s Maurel & Prom Andina.
At completion, the buyer is set to assume Gran Tierra’s obligations under the 9.750% Senior Secured Amortizing Notes due 2031.
A consent solicitation has been launched to amend the note terms to facilitate the transfer, including collateral releases and change-of-control treatment.
Holders representing at least 50% of the US$479.35 million outstanding notes must consent for the amendments to take effect.
Consenting holders would receive a fee of US$2.5 per US$1,000 of principal, payable on the sale closing date.
