MEG Energy plans to redeem $100 million portion of notes due 2025

By Wendy Van Sickle

Columbus, Ohio, July 22 – MEG Energy Corp. said it plans to redeem $100 million of its 6½% senior secured second-lien notes due 2025.

The notes will be redeemed at 103.25 plus accrued interest to the redemption date, according to a press release.

Inclusive of the redemption, MEG will have redeemed $354 million of the original $750 million principal of the notes, leaving $396 million outstanding.

The redemption is expected to be completed on Aug. 23.

Based in Calgary, Alta., MEG is focused on in situ sustainable thermal oil development and production in Canada.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.