08:59 AM EDT, 09/12/2024 (MT Newswires) -- Gran Tierra Energy Inc. ( GTE ) was at last look down 0.5% in US premarket after announcing that it intends, subject to market and other conditions, to offer an additional amount of its previously issued 9.500% Senior Secured Amortizing Notes due 2029.

Gran Tierra in a statement said it currently has outstanding US$587,590,000 aggregate principal amount of 9.500% Senior Secured Amortizing Notes due 2029. It added the Notes will have the same terms and provisions as the Original Notes, except for the issue date and the issue price, and will form the same series as the Original Notes, including with respect to interest payments.

Thursday's statement said the Notes will be guaranteed by certain subsidiaries of Gran Tierra, which intends to use net proceeds from the offering to finance the cash portion of the consideration payable for the shares under the terms of the proposed acquisition of the entire issued and to be issued share capital of i3 Energy plc ( ITEEF ). Any remaining net proceeds from the offering will be useed for general corporate purposes, which may include additional capital to appraise and develop exploration discoveries, repayment of other indebtedness, working capital and/or acquisitions.