"New Gold Inc." Lowers Debt by Buying Back Senior Secured Notes

in Debt Gold Gold Bullion prices Gold Company New Gold Senior Secured Notes by admin — January 9, 2009 9:19 pm | no comments

In a move to lower its debt load, New Gold Inc (NGD.TO) bought back C$50 million of its senior secured notes at 40 percent off their face value. As a result, the senior secured debt load of the company will fall from C$237 million to C$187 million. That will also help the company cut an annual C$5 million in costs related to interest from the lowered debt.Overall debt for the company will be down

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"New Gold Inc." Lowers Debt by Buying Back Senior Secured Notes