GeoPark Announces Its Intent to Partially Redeem Its Senior Notes Due 2024

Rhea-AI Summary

GeoPark Limited (NYSE: GPRK) announced its intention to redeem $45 million of its 6.500% senior notes due 2024. The redemption will occur at a price of 103.250% of the principal amount, plus any accrued interest. A notice will be sent to the noteholders as per the indenture's guidelines. The anticipated redemption date is May 26, 2022. This announcement does not represent an offer to sell or purchase any securities.

Positive

• Redeeming $45 million in senior notes reduces future interest expenses.
• The redemption price indicates a premium, suggesting efficient management of liability.

Negative

• None.

BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announced its intent to redeem $45,000,000 aggregate principal amount of its 6.500% senior notes due 2024 (the “Notes”). A notice of redemption will be sent to the holders of the Notes in accordance with the requirements of the indenture governing the Notes (the “Indenture”). Pursuant to the terms of the Indenture, the Notes will be redeemed at a redemption price equal to 103.250% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and additional amounts (if any) to, but excluding, the redemption date.

The anticipated redemption date is May 26, 2022.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security nor a notice of redemption under the Indenture and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

NOTICE

Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.

Certain amounts and percentages included in this press release have been rounded for ease of presentation.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

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 partial redemption of the Notes. 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: https://www.businesswire.com/news/home/20220510006437/en/

INVESTORS:

Stacy Steimel

ssteimel@geo-park.com

Shareholder Value Director

T: +562 2242 9600

Miguel Bello

mbello@geo-park.com

Market Access Director

T: +562 2242 9600

Diego Gully

dgully@geo-park.com

Investor Relations Director

T: +5411 4312 9400

MEDIA:

Communications Department communications@geo-park.com

Source: GeoPark Limited

FAQ

What is GeoPark's recent announcement regarding its senior notes?

GeoPark announced the redemption of $45 million of its 6.500% senior notes due 2024 at a price of 103.250% of the principal amount.

When is the redemption date for GeoPark's senior notes?

The anticipated redemption date for GeoPark's senior notes is May 26, 2022.

What is the principal amount of GeoPark's senior notes being redeemed?

GeoPark is redeeming a total principal amount of $45 million of its senior notes.

What price will GeoPark redeem its senior notes at?

GeoPark will redeem its senior notes at a price of 103.250% of the principal amount, plus accrued interest.