Gran Tierra’s borrowing base, amount of permitted senior debt reduced

By Angela McDaniels

Tacoma, Wash., June 3 – Gran Tierra Energy Inc. subsidiary Gran Tierra Energy International Holdings Ltd. entered into an amendment to its credit agreement on Thursday that decreased the borrowing base to $185 million from $200 million, with $160 million readily available and $25 million subject to the consent of all lenders party thereto.

The amendment also decreased the amount of permitted senior debt to $500 million from $600 million, according to an 8-K filing with the Securities and Exchange Commission.

The borrower paid a $50,000 amendment fee.

Bank of Nova Scotia is the administrative agent.

Gran Tierra is an oil and gas exploration and production company based in Calgary, Alta.

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