Beach Energy holders put back more than 90% of 3.95% convertibles

By Angela McDaniels

Tacoma, Wash., March 5 – Beach Energy Ltd. said the holders of more than 90% of its A$150 million 3.95% senior convertible notes due 2017 have exercised their option for redemption, which will occur April 3.

Beach Energy plans to redeem the remaining convertibles, according to a company news release.

The company will use its bank debt facility to fund the redemption.

Based in Adelaide, South Australia, Beach Energy is an oil and gas exploration and development company.

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