FX.co ★ GeoPark Prices $550 Mln Offering Of 8.750% Senior Notes Due 2030

GeoPark Ltd. (GPRK) revealed on Wednesday that it has set the pricing for its senior notes at an interest rate of 8.750%, maturing in 2030, as part of a private placement. The total value of this offering is $550 million.

The funds raised from this endeavor are earmarked primarily for repurchasing the company's existing senior notes with a 5.500% interest rate, which are due in 2027. Additionally, up to $152 million will be used to settle outstanding debts.

The transaction is anticipated to be finalized by January 31.

On Tuesday, GeoPark's stock concluded the trading session at $9.16, marking a decline of 2.86% on the New York Stock Exchange.