Callon Petroleum calls $48.48 million 13% notes due 2016 at 103.25

By Susanna Moon

Chicago, March 12 - Callon Petroleum Co. said it called its $48,480,500 of outstanding 13% senior notes due 2016.

Callon expects to redeem the notes at 103.25% of par plus accrued interest to the redemption date of April 11, according to a company press release.

Proceeds for the redemption will come from a an initial draw of the company's new $125 million senior secured second-lien term loan facility due 2019.

Callon is an independent oil and natural gas company based in Natchez, Miss.

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