MEG Energy plans to redeem final $171 million of notes due 2025

By Wendy Van Sickle

Columbus, Ohio, March 3 – MEG Energy Corp. said it plans to redeem the remaining $171 million outstanding of its 6½% senior secured second-lien notes due 2025.

The notes will be redeemed at 101.625 plus accrued interest to the redemption date, according to a press release.

The redemption is expected to be completed on April 4.

The issue originally had $750 million of notes.

Based in Calgary, Alta., MEG is focused on in situ sustainable thermal oil development and production in Canada.

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