GeoPark Prices $550M Senior Notes Offering

TL;DR

GPRK just priced $550M of 8.75% notes due 2030, closing Feb 5.

AI Summary

GeoPark Limited announced on January 29, 2025, that it has priced an offering of US$550,000,000 aggregate principal amount of 8.750% senior notes due 2030. The offering is expected to close on February 5, 2025. The company intends to use the net proceeds from this offering for general corporate purposes.

Why It Matters

This offering provides GeoPark with significant capital, potentially enabling expansion or refinancing of existing debt, which could impact its financial stability and future growth prospects.

Risk Assessment

Risk Level: medium — Issuing new debt increases financial leverage, and the interest rate on these notes is relatively high, which could pose a risk if the company's future earnings are insufficient to cover payments.

Key Numbers

• $550.0M — Senior Notes Offering (Total principal amount of debt issued by GeoPark.)
• 8.750% — Senior Notes Interest Rate (The coupon rate on the newly issued debt.)
• 2030 — Senior Notes Maturity (The year in which the principal amount of the notes is due.)

Key Players & Entities

• GeoPark Limited (company) — Issuer of the notes
• US$550,000,000 (dollar_amount) — Aggregate principal amount of senior notes
• 8.750% (dollar_amount) — Interest rate on the senior notes
• 2030 (date) — Maturity year of the senior notes
• January 29, 2025 (date) — Date of the press release and pricing
• February 5, 2025 (date) — Expected closing date of the offering

FAQ

Key Financial Figures

• $550,000,000 — ;GeoPark Limited Prices Offering of U.S.$550,000,000 8.750% Senior Notes due 2030” I
• $152.0 million — ncurrent tender offer, to repay up to US$152.0 million of outstanding prepayments due under an

Filing Documents

• dp223949_6k.htm (6-K) — 22KB
• image_001.jpg (GRAPHIC) — 5KB
• 0000950103-25-001009.txt ( ) — 31KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2025 Commission File Number: 001-36298 GeoPark Limited (Exact name of registrant as specified in its charter) Calle 94 N° 11-30 8° piso Bogota, Colombia (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F X Form 40-F GEOPARK LIMITED TABLE OF CONTENTS ITEM 1. Press Release dated January 29, 2025 titled “GeoPark Limited Prices Offering of U.S.$550,000,000 8.750% Senior Notes due 2030” Item 1 FOR IMMEDIATE DISTRIBUTION GEOPARK LIMITED PRICES OFFERING OF U.S.$550,000,000 8.750% SENIOR NOTES DUE 2030 Bogotá, Colombia, January 29, 2025 – GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), an exempted company incorporated under the laws of Bermuda, today announced the pricing of U.S.$550,000,000 aggregate principal amount of 8.750% senior notes due 2030 (the “Notes”). The Notes were offered in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will be fully and unconditionally guaranteed jointly and severally by GeoPark Colombia S.L.U., GeoPark Colombia S.A.S., and GeoPark Argentina S.A. The settlement of the Notes offering is expected to take place on January 31, 2025, subject to customary closing conditions. The net proceeds from the Notes offering will be used by the Company to repurchase the Company’s outstanding 5.500% senior notes due 2027 (the “2027 Notes”) through a concurrent tender offer, to repay up to US$152.0 million of outstanding prepayments due under an offtake and prepayment agreement and the remainder, if any, for general corporate purposes, including capital expenditures. This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. The Notes have not been registered under the Securities Act, or any applicable state securities laws, and will be offered only to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. Unless so registered, the Notes may not be offered or sold in the United For further information, please contact: INVESTORS: Maria Catalina Escobar Shareholder Value and Capital Markets Director mescobar@geo-park.com Miguel Bello Investor Relations Officer mbello@geo-park.com Maria Alejandra Velez Investor Relations Leader mvelez@geo-park.com MEDIA: Communications Department communications@geo-park.com ***** CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS 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 tender offer for the 2027 Notes, the Company’s Notes offering and its intended use of proceeds therefrom. 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 events. In light of the risks and uncertainties described above, and the potential for variation of actual results from the assumptions on which

View Full Filing

View this 6-K filing on SEC EDGAR