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Published on 2/20/2013 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Forest Oil to redeem remaining 8½% notes with funds from asset sale

By Marisa Wong

Madison, Wis., Feb. 20 - Forest Oil Corp. plans to redeem the $300 million principal amount outstanding of its 8½% senior notes due 2014 using proceeds from a sale of Texas oil and gas properties to Hilcorp Energy I, LP.

The Denver oil and gas company originally issued $600 million of the notes in February 2009. The company redeemed $300 million of the notes in October.


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