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Paramount Resources to pay down revolver debt with notes proceeds
By Sara Rosenberg
New York, May 15 – Paramount Resources Ltd. plans on repaying borrowings under its revolving credit facility using proceeds from a $400 million senior notes offering, according to a market source.
Proceeds from the notes will also be used to fund the conditional call at 102.75 of the company’s existing senior notes due 2017 and for general corporate purposes, including capital expenditures.
Paramount is a Calgary, Alta.-based oil and natural gas exploration, development and production company.
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