GeoPark Prices Offering of Its 6.500% Senior Secured Notes Due 2024
September 14 2017 - 6:30PM
Business Wire
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.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor will there be
any sale of these securities, in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
state or jurisdiction. The Notes have not been registered under the
Securities Act, or any applicable state securities laws, and will
be offered only to qualified institutional buyers pursuant to Rule
144A promulgated under the Securities Act and outside the United
States to non-U.S. persons in accordance with Regulation S under
the Securities Act. Unless so registered, the Notes may not be
offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act
and any applicable state securities laws. This press release is not
an offer to purchase or a solicitation of an offer to purchase with
respect to any 2020 Notes or any other securities, and does not
constitute a notice of redemption of the 2020 Notes.
ABOUT GEOPARK AND GEOPARK LA AGENCIA
GeoPark is a leading independent oil and natural gas exploration
and production company with operations in Latin America and a
proven track record of growth in production and reserves since
2006. GeoPark operates in Colombia, Chile, Brazil, Peru and
Argentina.
GeoPark LA Agencia is an established branch, under the laws of
Chile, of GeoPark Latin America Limited, an exempted company
incorporated under the laws of Bermuda, which is wholly owned by
GeoPark Limited, an exempted company incorporated under the laws of
Bermuda.
CAUTIONARY STATEMENT ON FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements often are preceded by words such
as “believes,” “expects,” “may,” “anticipates,” “plans,” “intends,”
“assumes,” “will” or similar expressions. The forward-looking
statements contained herein include statements about the Company’s
Notes offering and its intended use of proceeds therefrom. These
expectations may or may not be realized. Some of these expectations
may be based upon assumptions or judgments that prove to be
incorrect. In addition, GeoPark’s business and operations involve
numerous risks and uncertainties, many of which are beyond the
control of GeoPark, which could result in GeoPark’s expectations
not being realized or otherwise materially affect the financial
condition, results of operations and cash flows of GeoPark. Some of
the factors that could cause future results to materially differ
from recent results or those projected in forward-looking
statements are described in GeoPark’s filings with the United
States Securities and Exchange Commission.
The forward-looking statements are made only as of the date
hereof, and GeoPark does not undertake any obligation to (and
expressly disclaims any obligation to) update any forward-looking
statements to reflect events or circumstances after the date such
statements were made, or to reflect the occurrence of unanticipated
events. In light of the risks and uncertainties described above,
and the potential for variation of actual results from the
assumptions on which certain of such forward-looking statements are
based, investors should keep in mind that the results, events or
developments disclosed in any forward-looking statement made in
this document may not occur, and that actual results may vary
materially from those described herein, including those described
as anticipated, expected, targeted, projected or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170914006492/en/
INVESTORS:GeoPark LimitedStacy Steimel, +56 (2)
2242-9600Shareholder Value DirectorSantiago,
Chilessteimel@geo-park.comorDolores Santamarina, +54 (11)
4312-9400Investor ManagerBuenos Aires,
Argentinadsantamarina@geo-park.comorMEDIA:Sard Verbinnen
& CoJared Levy, +1 212-687-8080New York,
USAjlevy@sardverb.comorSard Verbinnen & CoKelsey Markovich, +1
212-687-8080New York, USAkmarkovich@sardverb.com
GeoPark (NYSE:GPRK)
Historical Stock Chart
From Mar 2024 to Apr 2024
GeoPark (NYSE:GPRK)
Historical Stock Chart
From Apr 2023 to Apr 2024