11:23 AM EST, 01/21/2025 (MT Newswires) -- GeoPark ( GPRK ) said Tuesday it plans to offer senior notes in a private placement to eligible institutional buyers.

The pricing and terms of the notes will depend on market conditions and other factors, the company said.

The company also announced a cash tender offer to repurchase all of its outstanding 5.500% notes due 2027.

GeoPark ( GPRK ) plans to use the net proceeds from the offering to repurchase its notes due 2027, repay up to $152 million in outstanding prepayments under an offtake and prepayment agreement, and use any remaining funds for general corporate purposes.

Shares of GeoPark ( GPRK ) were down more than 5% in recent trading.

Price: 9.89, Change: -0.57, Percent Change: -5.41