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Frontera Announces the Closing and Funding of The Recapitalization of Its ODL Interest Through a New $220 Million Non-Recourse, Secured Loan
Frontera Announces the Closing and Funding of The Recapitalization of Its ODL Interest Through a ...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n\n\n\n Frontera Announces the Closing and Funding of The Recapitalization of Its ODL Interest Through a New $220 Million Non-Recourse, Secured Loan\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Closing of Recapitalization Financing Satisfies the Financing Condition Under Its Tender Offer and Consent Solicitation\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n May 14, 2025\n \n\n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \") announces that Frontera's wholly-owned subsidiary, Frontera Pipeline Investment AG (\"\n \n FPI\n \n \") and a syndicate of lenders led by Macquarie Group (the \"\n \n Lenders\n \n \") have entered into an amended and restated credit agreement whereby, among other things, the Lenders agreed to increase the amounts available in the original credit agreement to\n \n $220 million\n \n (the \"\n \n Recapitalization Facility\n \n \"), guaranteed by Frontera ODL Holding Corp., the parent company of FPI. The Recapitalization Facility is supported exclusively by the cash flows from the Company's interest in Oleoducto de los Llanos Orientales S.A. (\"\n \n ODL\n \n \") and is non-recourse to Frontera.\n \n\n Today, FPI has met all the conditions precedent of the Recapitalization Facility and the additional amounts under this transaction have been funded to the Company.\n \n\n All financial amounts in this news release are in\n \n United States\n \n dollars, unless otherwise stated.\n \n\n\n\n Orlando Cabrales\n \n\n\n , Chief Executive Officer of Frontera, commented:\n \n\n\n\n \"Frontera is pleased to announce the successful completion of the ODL recapitalization. This transaction allows the Company to distribute significant value to all its investors, preserving future upside for this key transportation asset in\n \n Colombia\n \n . By excluding\n \n Puerto Bahia\n \n from the security package, it provides the port with additional optionality to develop key strategic growth projects. Frontera looks forward to continuing to deliver ...