GeoPark gives early results of tender offer for 6½% notes due 2024

By Rebecca Melvin

New York, April 20 – GeoPark Ltd. announced that the early tender results of its offer to purchase for cash up to $255 million of 6½% senior notes due 2024 exceeded its maximum purchase amount, according to a company news release.

As of 5 p.m. ET on April 19, the company received validly tendered notes and consents to amend the note indenture equal to $334,233,000, or 78.64% of the principal amount outstanding of the notes.

The company expects that any notes validly tendered and accepted for purchase will be subject to proration and it does not expect to purchase any notes tendered after the early deadline.

Holders that tendered at or prior to the early deadline will be eligible to receive the total consideration of $1,050 for each $1,000 principal amount of notes. The payment includes a $50 early tender payment.

The tender offer is scheduled to expire at 11:59 p.m. ET on May 3. Upon settlement, $170 million principal amount of the notes will remain outstanding.

GeoPark is an oil and gas exploration and production company operating in Colombia, Chile, Brazil, Peru, Ecuador and Argentina.

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