Gran Tierra Energy Inc. reported strong early participation in its exchange offer to swap any and all of its outstanding $716.34 million 9.500% senior secured amortizing notes due 2029 for new 9.750% senior secured amortizing notes due 2031, with $636.74 million (about 88.89%) tendered by the early deadline. Eligible holders tendering by the early deadline are expected to receive total consideration of $1,000 per $1,000 principal, split between roughly $196.31 in cash (including a $50 early participation premium) and $803.69 in new notes, subject to a $200,000 minimum new-note denomination; holders tendering after the early deadline would receive $1,000 in new notes with no cash component. The early settlement is expected on Feb. 18, 2026, with final settlement expected on March 2, 2026, and the company said it has obtained the required consents to adopt proposed indenture amendments that would become operative upon consummation.

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