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Continental Resources redeems seniors notes.

BANKING AND CREDIT NEWS-October 5, 2016-Continental Resources redeems seniors notes

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Oklahoma City, Oklahoma-based oil and gas company Continental Resources, Inc. (NYSE: CLR) will redeem all of its outstanding 7 3/8% Senior Notes due 2020 and 7 1/8% Senior Notes due 2021 on November 10, 2016, the redemption date for both the 2020 Notes and 2021 Notes, the company said.

The redemption price for the 2020 Notes will be equal to 102.458% of the principal amount plus accrued and unpaid interest, if any, to the redemption date of November 10, 2016 in accordance with the terms of the 2020 Notes and the related indenture under which the 2020 Notes were issued. The aggregate principal amount of the 2020 Notes outstanding is USD200 million.

The redemption price for the 2021 Notes will be equal to 103.563% of the principal amount plus accrued and unpaid interest, if any, to the redemption date of November 10, 2016 in accordance with the terms of the 2021 Notes and the related indenture under which the 2021 Notes were issued. The aggregate principal amount of the 2021 Notes outstanding is USD400 million.

Continental Resources, Inc. explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. It was founded in 1967.

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Publication:M2 Banking & Credit News (BCN)
Date:Oct 5, 2016
Words:238
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