North American Energy calls C$37.48 million 9 1/8% notes due 2017

By Tali Rackner

Norfolk, Va., July 8 – North American Energy Partners Inc. plans to redeem C$37,478,000 of its 9 1/8% series 1 senior unsecured debentures due 2017, according to a filing with the Securities and Exchange Commission.

The notes will be redeemed at 101.52 plus accrued interest of about C$32.25 per C$1,000 principal amount.

The notes will be redeemed on Aug. 14. Holders of record as of the close of business on Aug. 10 will have their notes redeemed on a pro rata basis.

Following the transaction, C$20 million will remain outstanding.

North American Energy is an Edmonton, Alta.-based provider of heavy construction, mining, piling and pipeline services.

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