Gran Tierra Energy Inc. announced early participation results for its exchange offer to swap all outstanding 9.500% Senior Secured Amortizing Notes due 2029 for newly issued 9.750% Senior Secured Amortizing Notes due 2031. Approximately 88.89% of the Existing Notes were validly tendered by the early deadline, satisfying the minimum condition and consent requirements for the proposed indenture amendments.
Key takeaways
US$636,740,000 aggregate principal amount of Existing Notes (88.89% of outstanding) were validly tendered for exchange by the Early Participation Deadline of February 11, 2026.
The Company received consents from holders representing more than the required 66-2/3% principal amount to effect proposed amendments to the Existing Indenture, including the release of collateral.
Eligible Holders tendering by the early deadline are expected to receive approximately US$196.31 in cash and US$803.69 in New Notes for every US$1,000 of Existing Notes exchanged.
The Exchange Offer is conditioned upon the consummation of new indebtedness generating sufficient net proceeds to pay the US$125.0 million Cash Consideration.
The Early Settlement Date is scheduled for February 18, 2026, with the Expiration Deadline set for February 27, 2026.