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Canacol Energy Secures Debtor in Possession Financing Agreement

BY MT Newswires | CORPORATE | 07:15 AM EST

07:15 AM EST, 12/10/2025 (MT Newswires) -- Canacol Energy (CNNEQ) said Wednesday that it has signed an agreement with a group of its 5.75% senior unsecured notes holders for debtor-in-possession (DIP) financing.

The financing, which is comprised of a US$45 million delayed-draw new-money term loan, also carries the option to increase it by up to $22 million in letters of credit to renew and/or replace certain existing letters of credit.

The DIP financing will bear customary DIP interest and fees, and mature on June 30, 2026, with a three-month extension option subject to conditions.

Proceeds will fund operations and restructuring costs, and facilitate the renewal or replacement of required letters of credit.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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