Frontera Secures $120M Prepayment Deal with Chevron
Update: 2025-12-30
Description
Frontera Energy secures $120M prepayment deal with Chevron, replacing an expiring agreement. The new deal provides an initial $80M advance, with an option for an additional $40M. The financing cost is tied to the Secured Overnight Financing Rate plus 4.25% per year, with repayments starting after a six-month grace period. Frontera plans to use the funds for working capital and liquidity. This prepayment deal offers balance sheet flexibility and a steady buyer for some output, signaling Chevrons ongoing trust in Fronteras Colombian operations. Checkout Solipillow.com
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