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Jun 21, 2021

Frontera Energy Corporation (“Frontera”) (TSX:FEC) issued US$400 million in senior unsecured notes due in 2028 at a coupon rate of 7.875% and a related tender offer to repurchase, at a premium, the Company’s US$350 million 9.7% senior secured notes due in 2023.

Frontera is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 27 exploration and production blocks in Colombia, Ecuador and Guyana, and pipeline and port facilities in Colombia. Frontera is committed to conducting business safely and in a socially, environmentally, and ethically responsible manner.

McMillan acted as Canadian counsel in connection with this cross-border financing, which was important to Frontera as it prepared to move forward with new drilling programs to continue its growth after COVID shutdowns. Paul Davis expertly led the multidisciplinary team, which included Sandra Zhao, Troy Hilson, Michael Friedman, Kathy Martin and Maria Sagan.

As a national business law firm with exceptional capabilities to lead businesses through cross-border transactions and investments into Canada and within multifaceted regulatory regimes, McMillan provides real-time business solutions to our clients. Our Capital Markets & Securities, Financial Services, and Tax Groups are skilled at structuring and closing complex deals of all shapes and sizes in Canada, the US and internationally and in providing innovative transactional advice and solutions. Our understanding of business imperatives and our relationships with the regulators helps our clients stay ahead.