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Obsidian Energy to pay $3.3 million on senior notes with equity offering
Chicago, Nov. 10 – Obsidian Energy Ltd. announced that as part of its agreement with noteholders for certain consents and amendments to its note purchase agreement, the company would use proceeds from an equity offering to make a $3.3 million payment on its $47 million outstanding amount of notes, according to a 6-K filed with the Securities and Exchange Commission.
The company must also make a payment on its term loan.
If necessary, Obsidian will draw on its revolver to make the payment.
Obsidian Energy is a Calgary, Alta.-based oil and natural gas production company.
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