Ithaca Energy to redeem notes due 2019, repay drawdowns via new issue

By Susanna Moon

Chicago, May 8 – Ithaca Energy Inc. said it plans to redeem its senior notes due 2019, to repay debt and to repay drawdowns under its reserves-based lending facility using proceeds of a new issue.

Ithaca said wholly owned subsidiary Ithaca Energy (North Sea) plc plans to price $350 million principal amount of senior notes due 2023, according to a press release.

Ithaca Energy is an Aberdeen, Scotland-based oil and gas exploration, development and production company.

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