GeoPark Prices Offering of its 6.500% Senior Secured Notes Due 2024 - GeoPark
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GeoPark Limited (“GeoPark” or the “Company”) (NYSE: “GPRK”), an exempted company incorporated under the laws of Bermuda, today announced the pricing of US$425,000,000 aggregate principal amount of 6.500% senior secured notes due 2024 (the “Notes”). The Notes will mature on September 21, 2024 and will be secured by a pledge of the Company’s equity interests in certain of its subsidiaries. The Notes were offered to qualified institutional buyers 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 accordance with Regulation S under the Securities Act. The settlement of the Notes offering is expected to take place on September 21, 2017, subject to customary closing conditions.

The net proceeds from the Notes offering will be used by the Company (i) to make a capital contribution to its wholly-owned subsidiary, GeoPark Latin America Limited Agencia en Chile (“GeoPark LA Agencia”), providing it with sufficient funds to (a) purchase for cash any and all of the 7.50% senior secured notes due 2020 (the “2020 Notes”) in GeoPark LA Agencia’s previously announced tender offer (the “Tender Offer”), (b) pay any related fees and expenses, including any applicable tender premiums and accrued interest on the 2020 Notes, and (c) redeem and satisfy and discharge the 2020 Notes, if any, that remain outstanding after the completion of the Tender Offer and (ii) for general corporate purposes, including capital expenditures and to repay existing indebtedness.

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