Baytex Energy plans to redeem 5 1/8% notes and 6 5/8% debentures

By Sarah Lizee

Olympia, Wash., Jan. 21 – Baytex Energy Corp. plans to redeem its $400 million 5 1/8% notes due June 1, 2021 and $300 million 6 5/8% debentures due July 19, 2022 using new note proceeds, according to a press release.

The company announced on Tuesday that it plans to offer $500 million senior notes due 2027 in a private placement.

Baytex will also use borrowings under its credit facilities to fund the redemption.

Baytex is a Calgary, Alta.-based oil and gas exploration and production company.

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