Gran Tierra Energy Inc. Announces Pricing Of $300 Million 7.750% Senior Notes Offering

 
TIDMGTE 
 
   CALGARY, Alberta, May 20, 2019 (GLOBE NEWSWIRE) -- Gran Tierra Energy 
Inc. ("Gran Tierra") (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today 
announced that it has priced its offering of $300 million aggregate 
principal amount of 7.750% Senior Notes due 2027 (the "Notes") in a 
private placement to qualified institutional buyers in the United States 
pursuant to Rule 144A under the Securities Act of 1933, as amended (the 
"Securities Act"), to non-U.S. persons in transactions outside the 
United States pursuant to Regulation S under the Securities Act and 
pursuant to certain prospectus exemptions in Canada. 
 
   The Notes will be fully and unconditionally guaranteed by certain 
subsidiaries of Gran Tierra that guarantee its revolving credit 
facility. The Notes will pay interest semi-annually at a rate of 7.750% 
per annum, and will mature on May 23, 2027, unless earlier redeemed or 
repurchased in accordance with their terms. Gran Tierra expects to close 
the offering on May 23, 2019, subject to the satisfaction of customary 
closing conditions. Gran Tierra expects to receive net proceeds, after 
initial purchasers' discounts and commissions and estimated fees and 
offering expenses, of approximately $289.2 million. Gran Tierra intends 
to use the net proceeds from the offering (i) to repay the outstanding 
amounts borrowed under the senior secured revolving credit facility, 
(ii) capital expenditures and (iii) for general corporate purposes, 
which may include additional capital to appraise and develop exploration 
discoveries, repayment of other indebtedness, working capital and/or 
acquisitions. 
 
   This press release is neither an offer to sell nor a solicitation of an 
offer to buy the Notes, nor shall there be any sale of these securities 
in any state or jurisdiction in which such an offer, solicitation or 
sale would be unlawful prior to the registration or qualification under 
the securities laws of any such state or jurisdiction. 
 
   The Notes have not been registered under the Securities Act, or the 
securities laws of any other jurisdiction, and may not be offered or 
sold in the United States absent registration or an applicable exemption 
from registration requirements. The offering is being made exclusively 
to qualified institutional buyers in the United States pursuant to Rule 
144A under the Securities Act, to non-U.S. persons in transactions 
outside the United States pursuant to Regulation S under the Securities 
Act and pursuant to certain prospectus exemptions in Canada. 
 
   Forward-Looking Statements 
 
   This press release contains "forward-looking statements" within the 
meaning of the Private Securities Litigation Reform Act of 1995, Section 
27A of the Securities Act of 1933, as amended, and Section 21E of the 
Securities Exchange Act of 1934, as amended, including statements 
related to Gran Tierra's expectations regarding the completion, timing 
of the proposed offering and use of proceeds. Any statements contained 
in this press release that are not statements of historical fact may be 
deemed to be forward-looking statements. Words such as "will," "intends" 
and similar expressions are intended to identify these forward-looking 
statements. There are a number of important factors that could cause 
Gran Tierra's results to differ materially from those indicated by these 
forward-looking statements, including risks and uncertainties related to 
market conditions, the receipt of all necessary regulatory and exchange 
approvals and the satisfaction of customary closing conditions related 
to the proposed offering. There can be no assurance that Gran Tierra 
will be able to complete the proposed offering on the anticipated terms, 
or at all. Additional risks and uncertainties relating to Gran Tierra 
and its business can be found under the heading "Risk Factors" in Gran 
Tierra's filings with the Securities and Exchange Commission, including 
its annual report on Form 10-K for the year ended December 31, 2018, as 
amended, and its other filings with the Securities and Exchange 
Commission. Unless required by applicable law, Gran Tierra undertakes no 
obligation to update or revise any such forward-looking statements, 
whether as a result of new information, future events or otherwise. 
 
   Contact Information 
 
   For investor and media inquiries please contact: 
 
   Gary Guidry 
 
   Chief Executive Officer 
 
   Ryan Ellson 
 
   Chief Financial Officer 
 
   Rodger Trimble 
 
   Vice President, Investor Relations 
 
   [phone] 
 
   [e-mail] 
 
 
 
 

(END) Dow Jones Newswires

May 20, 2019 17:16 ET (21:16 GMT)

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