23.04.2014 00:45:50

Baytex Commences Tender Offers & Consent Solicitations For Aurora Senior Notes

(RTTNews) - Baytex Energy Corp. (BTE.TO, BTE) announced the commencement of cash tender offers relating to any and all of the US$365 million current outstanding principal amount of 9.875% Senior Notes due 2017 and US$300 million current outstanding principal amount of 7.50% Senior Notes due 2020 of Aurora USA Oil & Gas, Inc. (AEF.TO, AOG) and its solicitations of consents from the holders of the Notes to adopt certain amendments to the indentures governing the Notes. The issuer is a wholly-owned subsidiary of Aurora Oil & Gas Limited.

On February 6, 2014, Baytex entered into a scheme implementation deed whereby Baytex will acquire all of the issued ordinary shares of Aurora. The Arrangement is expected to close in early June, 2014.

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