Clifford Chance

Clifford Chance advises a consortium of banks in Frontera Energy Corporation's completed Notes offering of US$350 million and related tender offer and consent solicitation

Clifford Chance advised BAML, Citi, HSBC, Itaú and JPMorgan, (i) as dealer managers and solicitation agents in connection with Frontera’s tender offer and consent solicitation to holders of its senior secured notes and (ii) as initial purchasers in connection with a Rule 144A/Regulation S offering of Frontera’s US$350 million aggregate principal amount of 9.700% senior notes due 2023.

Frontera, a Canadian public company with oil and gas operations in Colombia and Peru, used a portion of the proceeds from the offering to repurchase US$250 million in previously issued senior secured notes tendered in the tender offer. The remaining US$100 million will be used for general corporate purposes.

Partner Hugo Triaca led on this transaction and was assisted by associates Lane Feler, Mariana Estevez and Luciana De Lima Barata. Partner Avrohom Gelber advised on tax issues.

Clifford Chance previously advised the lenders in Frontera's US$100 Million Credit Facility. The funds were used to provide letters of credit to fund exploration and transportation commitments in Colombia and Peru.