Here comes a move towards refinancing some debt:
"CALGARY, May 10 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") (TSX: CLL) today announced that it has commenced cash tender offers (each, an "Offer" and collectively, the "Offers") and consent solicitations with respect to any and all of the US$200,000,000 aggregate outstanding principal amount of its 11¾% First Lien Senior Secured Notes due 2014 (the "2014 Notes") and the US$587,340,000 aggregate outstanding principal amount of its 10¼% Second Lien Senior Secured Notes due 2015 (the "2015 Notes" and together with the 2014 Notes, the "Notes"). In conjunction with the Offers, Connacher is soliciting noteholder consents (each, a "Consent Solicitation" and collectively, the "Consent Solicitations") to effect certain amendments to the indentures governing the Notes."
I seem to have misplaced my notes regarding the different financings outstanding.
From the 2010 Annual Report
The company reported the following debt outstanding:
As at December 31 ($000) 2010
Convertible Debentures, 4 ¾%, due June 30, 2012 $ 92,762
First Lien Senior Notes, 11 ¾%, due July 15, 2014 $184,176
Second Lien Senior Notes, 10 ¼%, due December 15, 2015 $ 566,663
Total – no current maturities $ 843,601
