Gran Tierra Energy amends loan via Scotiabank, extends by two weeks

By Susanna Moon

Chicago, Sept. 21 – Gran Tierra Energy Inc. amended its credit agreement on Monday with Bank of Nova Scotia as administrative agent and extended the revolving credit facility to Oct. 1, 2018 from Sept. 18, 2018.

The terms now exclude some of the company’s subsidiaries that were acquired in an acquisition that closed Aug. 23, 2016 from some loan covenants in order to facilitate the reorganization and windup of those subsidiaries and the transfer of assets of the subsidiaries to other subsidiaries, according to an 8-K filing with the Securities and Exchange Commission.

The company amended the facility on May 19 to increase the borrowing base to $300 million from $250 million and revise pricing for some letters of credit.

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

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