On July 11, Lightstream Resources Ltd. (TO: LTS.TO) opened the buyback of US$44 million, in principal amount, of its outstanding high-yield senior notes, the company said July 15.
The 8.625% notes due 2020 were repurchased from a noteholder for US$47.6 million, including interest, the company said. They will be retired, and an aggregate principal amount of US$856 million of notes remains outstanding, Lighstream said.
The company financed the buyback through its secured credit facility, Lighstream said.
Calgary, Alberta-based Lightstream Resources Ltd. explores and produces light oil in the Bakken, Cardium and Swan Hill plays in Canada.
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