GeoPark Limited Announces Pricing of U.S.$550 Million Senior Notes Offering
Bogotá, Colombia,
GeoPark Limited, a Bermuda-based international oil and gas exploration and production company, recently announced the pricing of a private placement of U.S.$550 million aggregate principal amount of 8.750% senior notes due 2030 (the “Notes”).
Terms of the Offering
The Notes were offered to qualified institutional buyers in the United States in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. The offering is expected to close on March 28, 2023, subject to customary closing conditions.
Impact on GeoPark
The proceeds from the sale of the Notes will be used by GeoPark to repay existing indebtedness, fund its capital expenditures, and for general corporate purposes. This offering demonstrates GeoPark’s strong financial position and its ability to access capital markets to support its growth strategy.
Impact on the World
The oil and gas industry is a significant contributor to the global economy, and GeoPark’s offering is a sign of continued investor confidence in the sector. The proceeds from the offering will help GeoPark to explore and produce oil and gas resources, potentially contributing to energy security and economic growth in the countries where it operates. Additionally, the offering may lead to further investments in the sector as other companies look to follow GeoPark’s lead.
Conclusion
GeoPark’s successful offering of U.S.$550 million in senior notes demonstrates the company’s strong financial position and its ability to access capital markets to support its growth strategy. The proceeds from the sale of the Notes will help GeoPark to repay existing indebtedness, fund capital expenditures, and contribute to the global energy sector by exploring and producing oil and gas resources. This offering is a positive sign for the oil and gas industry and may lead to further investments in the sector.
- GeoPark Limited announces pricing of U.S.$550 million senior notes offering
- Proceeds to be used for repayment of debt and general corporate purposes
- Strong financial position and access to capital markets
- Positive sign for the oil and gas industry
- Contribution to global energy security and economic growth
