GeoPark prices $550 million notes for refinancing and Vaca Muerta investment

GeoPark ($GPRK) priced $550 million of senior notes maturing in 2033 with a 9.5% coupon. The private placement is aimed at qualified institutional buyers and eligible investors outside the United States, with guarantees from three subsidiaries. Settlement is expected on October 28, subject to customary closing conditions.

Proceeds are earmarked for repurchasing outstanding 8.75% notes due in 2030, repaying or redeeming other debt including 5.5% notes due in 2027, and financing development of Vaca Muerta assets over the next 18 months. Remaining funds may support general corporate purposes. The financing would support both debt management and growth spending, although its coupon is higher than those on the specified existing notes. The announcement fixes the offering terms; it does not confirm settlement or completion of the related debt repurchases.

Sources:

• GlobeNewswire