Gran Tierra Energy Inc. announced that it has, through Gran Tierra Energy Colombia, LLC and Gran Tierra Colombia Inc., entered into a credit facility of up to USD 150 million. The facility replaces Gran Tierra's previous credit facility that had a borrowing base of USD 150 million. The new facility is with Trafigura, a market leader in the global commodities industry, and has a final maturity date of August 15, 2024, which may be extended to February 18, 2025 if certain conditions are met.

Highlights of the new facility include: An initial commitment of USD100 million with a potential option of up to an additional USD 50 million; The loan is secured by the economic rights over certain contracts together with Gran Tierra's Colombian commercial establishment; and Interest payable on the facility is based on a SOFR risk-free rate plus a margin of 6.00% per annum.