Pengrowth Energy prepays all remaining term notes maturing 2018

By Tali Rackner

Minneapolis, Oct. 12 – Pengrowth Energy Corp. prepaid all of its outstanding term notes scheduled to mature in 2018, according to a company news release.

The company prepaid C$15 million of its 6.61% notes due Aug. 28, 2018 and $265 million of its 6.98% notes due Aug. 28, 2018.

It also paid about C$78 million of principal on its remaining outstanding term notes.

With the completion of these payments, Pengrowth now has roughly C$535 million of term notes outstanding, having repaid about C$1.1 billion of term notes and convertible debentures since Dec. 31, 2016. The repaid debt carried an annual interest load of roughly C$65 million.

The company’s next term note maturity is not until Oct. 18, 2019.

Pengrowth is an oil and natural gas company based in Calgary, Alta.

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