06:18 AM EDT, 09/16/2024 (MT Newswires) -- Gran Tierra Energy ( GTE ) over the weekend said it priced a private placement of an additional $150 million of 9.500% senior secured amortizing notes due 2029.

Gran Tierra previously had US$587.6 million of the notes outstanding. The additional notes will have the same terms and provisions as the original notes, except for the issue date and issue price, and will form the same series as the original notes, including with respect to interest payments.

The offering is scheduled to close on Sept. 18. The company expects to receive net proceeds of about US$136 million from the offering.

The net proceeds will be used to fund the cash portion of the consideration for the proposed acquisition of all of i3 Energy ( ITEEF ) 's shares. Any remaining money will be used for general corporate purposes.