Harvest Operations to repay revolver borrowings with notes proceeds

By Sara Rosenberg and Paul A. Harris

New York, Sept. 17 - Harvest Operations Corp. plans to pay down revolving credit facility debt using proceeds from a $500 million notes offering, according to a market source.

Remaining proceeds will be used to repurchase the company's existing 7 7/8% senior notes.

Harvest Operations, a wholly owned subsidiary of Korea National Oil Corp., is an operator in Canada's energy industry.

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