Pengrowth redeems all 6.5% convertible debentures for C$76.81 million

By Devika Patel

Knoxville, Tenn., Jan. 15 - Pengrowth Energy Trust announced it redeemed its 6.5% convertible unsecured subordinated debentures due Dec. 31, 2010 for C$76.81 million.

Pengrowth used incremental borrowings at preferred interest rates under its revolving credit facility to fund the redemption. Following this, there are no convertible debentures remaining outstanding.

Pengrowth is a Calgary, Alta., energy royalty trust.

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