Frontera Energy completes offering of US$350M unsecured senior notes

On June 25, 2018, Frontera Energy (the Issuer) completed an offering of US$350 million principal amount of unsecured senior notes due in 2023, the proceeds of which were used to repurchase US$250 million of the company’s outstanding senior secured notes due in 2021 pursuant to a tender offer.

Frontera Energy is a Canadian petroleum exploration and production company in the business of heavy crude oil and natural gas with operations in Colombia and Peru. The transaction is key to the company’s strategy of sustainable production growth through high impact exploration and strategic initiatives.

McMillan LLP acted for Frontera Energy on all Canadian aspects of this complex cross-border transaction with a multi-disciplinary team which included banking, financial services and tax – in addition to capital markets expertise. The McMillan team was led by Paul Davis (Capital Markets and M&A) and included Kathy Martin (Financial Services), Michael Friedman (Tax), Sandra Zhao, Valenteena Samra (Capital Markets and M&A) and Maria Sagan (Financial Services).

Clifford Chance LLP acted US Counsel to the Underwriters, with a team that included Hugo Triaca, Jay Gavigan, Mariana Estévez, Leonela Vaccaro Padrón, Thomas McGowan, Lane Feler, Luciana de Lima Barata and Leonela Vaccaro Padrón.

Proskauer Rose LLP acted as US Counsel to the Issuer, with a team that included David Fenwick, Carlos Martinez, Antonio Piccirillo, Martin Hamilton, Martine Agatston, Saulo Salles de Padua, Javier Barrera Gazcon, Andrew Bettwy, William Majeski and Arianna Lacerte.

Dentons Cardenas & Cardenas LLP was Colombian Counsel to the Issuer with a team that included Bernardo Cárdenas, Santiago González, Catalina Pinilla and Daniela Mejía.

Rubio, Leguia, Normand was Peru Counsel to the Underwriters with a team that included Carlos Enrique Arata Delgado, Maria Claudia Arias Markovich, Eliana Peláez Robles and Sheerley Cárdenas Guerra.

Brigard & Urrutia was Colombian Counsel to the Underwriters with a team that included Carlos Fradique Méndez, Luis Gabriel Morcillo, Hernán Vidal Baute and Juan Camilo Arbeláez.

Blake, Cassels & Graydon LLP was Canadian Counsel to the Underwriters with a team that included Ross McKee, Daniel McLeod, Paul Stepak, Alexis Levine, Raees Nakhuda, Niloofar Entezari, Casey Richardson-Scott, Sharagim Habibi and Joshua Hutchinson.

Higgs & Johnson was Bahamian Counsel to the Underwriters with a team that included Christel Sands-Feaste, Alexandra Hall and Nia Rolle.

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