Finance & Investing | Fundraising | Capital Markets
Gran Tierra Plans $100 Million Private Placement
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Gran Tierra Energy Inc. announced that it intends, subject to market and other conditions, including the acceptance of the Toronto Stock Exchange, to offer $100 million aggregate principal amount of Convertible Senior Notes due 2021 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended in the United States and pursuant to certain prospectus exemptions in Canada. Gran Tierra expects to grant the initial purchasers a 30-day right to purchase up to an additional $15 million aggregate principal amount of Convertible Notes.
The interest rate, initial conversion rate and other terms of the Convertible Notes are to be determined upon pricing of the offering. The Convertible Notes are expected to pay interest semi-annually and…
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