Athabasca Oil (TSE:ATH) has released an update.
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Athabasca Oil Corporation has successfully closed a private placement offering of C$200 million in senior unsecured notes, which will be used to improve their balance sheet by redeeming higher-interest debt. The strategic move, powered by strong business fundamentals, is expected to reduce annual debt servicing costs by approximately C$6 million and enhance the company’s financial flexibility.
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