Baytex to pay down credit facilities with proceeds of notes

By Sara Rosenberg

New York, March 14 – Baytex Energy Corp. plans to repay a portion of the debt outstanding on its credit facilities using proceeds from a $500 million offering of senior notes, according to a news release.

Remaining proceeds from the notes will be used to redeem $409.8 million of 8¾% notes due April 1, 2027 and for general corporate purposes.

Baytex Energy is a Calgary, Alta.-based energy company.

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