OIL & GAS
Oil and gas major Santos will redeem its €1-billion subordinate notes issued in 2010, in line with a strategic focus to reduce debt and costs, and on prudent capital management.
The notes to be redeemed are Santos’ most expensive debt instrument, and replacing it with more efficient long-term debt funding would reduce the company’s forecast free cash flow breakeven oil price, the ASX-listed company said on Wednesday.
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