Magnum Hunter calls $105 million of 9.6% notes

Pittsburgh, July 16 - Magnum Hunter Resources Inc. will redeem $105 million of its outstanding 9.6% senior notes due 2012 at a price of 109.6%, or $115.08 million plus about $4.5 million in accrued interest, according to a company news release.

Holders will be paid at 5 p.m. ET on Aug. 27.

The redemption will be funded with a portion of proceeds from the company's recent issuance of 17.25 million shares of common stock, the release said.

The $10 million premium paid for the early redemption will result in a one-time charge to earnings in the third quarter.

Magnum Hunter is an Irving, Texas, independent exploration and development company.

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