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Newalta to redeem 7% convertibles with proceeds of 7.75% debentures
By Tali David
Minneapolis, Nov. 8 - Newalta Corp. announced that the proceeds of its 7.75% senior unsecured debentures will be used to redeem its 7% convertible unsecured subordinated debentures and for general corporate purposes.
Newalta priced C$125 million of series 2 senior unsecured debentures due Nov. 14, 2019.
"The successful completion of this refinancing will further enhance our financial flexibility and balance sheet by extending the average term of our debt outstanding," Mike Borys, senior vice president and CFO of Newalta, said in a news release.
Newalta is a Calgary, Alta.-based industrial waste management and environmental services company.
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