Gran Tierra Energy (GTE) said Wednesday that its Gran Tierra Energy Colombia subsidiary has agreed to a reserve-based lending facility with commitments of up to $75 million with a maturity of 36 months from the closing date.
The $75 million commitment, redetermined annually, will bear an interest rate of the secured overnight financing rate plus 4.50% per year, the company said.
The loan will be secured by the economic rights over certain contracts and with Gran Tierra's Colombian establishment, among other properties, the company said.
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