GRAN TIERRA ENERGY INC. (TSE:GTE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On May 17, 2017, Gran Tierra Energy Inc. (the Company), Gran
Tierra Energy International Holdings Ltd., as borrower, the Bank
of Nova Scotia, as administrative agent, and the lenders party
thereto entered into the Sixth Amendment to the Credit Agreement
(the Sixth Amendment). The Sixth Amendment amends the Credit
Agreement, dated as of September 18, 2015, by and among the
Company, Gran Tierra Energy International Holdings Ltd., the Bank
of Nova Scotia, and the lenders party thereto (as amended, the
Credit Agreement). The Sixth Amendment is effective as of June 1,
2017 and, among other things, (i) increases the borrowing base
from $250 million to $300 million, (ii) excludes certain cash
collateralized letters of credit from the definition of Total
Debt and (iii) amends the pricing for certain letters of credit.
From time to time, the agents, arrangers, book runners and
lenders under the Credit Agreement and their affiliates have
provided, and may provide in the future, investment banking,
commercial lending, hedging and financial advisory services to
the Company and its affiliates in the ordinary course of
business, for which they have received, or may in the future
receive, customary fees and commissions for these transactions.
The foregoing description of the Sixth Amendment is not complete
and is qualified by reference to the full text of the Sixth
Amendment, which is attached hereto as Exhibit 10.1 and
incorporated herein by reference.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information provided under Item1.01 in this Current Report on
Form 8-K is incorporated by reference into this Item2.03.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 10.1 |
Sixth Amendment to Credit Agreement, dated May 17, 2017 and effective as of June 1, 2017, by and among Gran Tierra Energy International Holdings Ltd., Gran Tierra Energy Inc., The Bank of Nova Scotia, and the lenders party thereto. |
About GRAN TIERRA ENERGY INC. (TSE:GTE)
Gran Tierra Energy Inc. is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization. It operates principally in the Putumayo Basin in Colombia, and has properties in other basins, including the Catatumbo, Cauca, Llanos, Sinu-San Jacinto, Middle Magdalena and Lower Magdalena Basins. It has interests in over 30 blocks in Colombia and it is the operator on over 20 of these blocks. Its blocks and fields include Chaza-Costayaco and Moqueta Fields, Guayuyaco-Guayuyaco and Juanambu Fields, Garibay-Jilguero Field and over 11 Other Blocks. Blocks REC-T-129, REC-T-142, REC-T-155 and REC-T-224 are located over 70 kilometers northeast of Salvador, Brazil in the Reconcavo Basin. Its blocks in Peru include Block 123, Block 129, Block 107 and Block 133. GRAN TIERRA ENERGY INC. (TSE:GTE) Recent Trading Information
GRAN TIERRA ENERGY INC. (TSE:GTE) closed its last trading session down -0.09 at 3.34 with 895,671 shares trading hands.
