19th Aug 2022 06:56
Gran Tierra Energy Inc - focused on oil and gas exploration and production in Colombia and Ecuador - Signs new credit facility via two Colombian subsidiaries. "The facility replaces Gran Tierra's previous credit facility that had a borrowing base of USD150 million," firm explains. Aim of the facility is to provide financial flexibility. Credit facility is with Singapore-based multinational commodity trader Trafigura Group Pte Ltd, Gran adds. The facility lasts until August 2024 but can be extended to February 2025. Interest on the facility is a risk-free secured overnight financing rate plus 6.0% per year. Read More
