Niko Resources makes C$308 million repayment of convertible debentures

By Ashley Montgomery

Kansas City, Kan., Dev. 4 - Niko Resources Ltd. has repaid C$308 million of its C$310 million convertible debentures due Dec. 30, 2012, according to a news release.

The company said it paid par plus accrued interest for the convertibles and financed the repayment with proceeds from its recent offerings of common shares and convertible senor unsecured notes, cash on hand and a draw on its credit facility. The offerings closed Tuesday.

Niko is a Calgary, Alta.-based oil and natural gas exploration and production company.

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