AED Oil repays all 6.5% convertibles, enters new one-year facility

By Jennifer Chiou

New York, Feb. 24 - AED Oil Ltd. announced the repayment of its remaining $27,509,000 of 6.5% convertible unsecured notes.

The repurchased notes were canceled, the company said, adding that the convertibles were redeemed at their face value out of its cash reserves.

Holders had previously tendered $43,491,000 of the notes in during a tender offer that expired on Sept. 10.

The company also entered into a one-year loan facility for up to A$20 million with Deutsche Bank AG. Proceeds will go towards general corporate purposes.

The issuer is a Melbourne, Australia-based oil company.

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