St Barbara Limited
(ASX:SBM) has repurchased an additional US$10 million of senior secured notes at a 2 percent discount to par value.
In the last 9 months St Barbara has repurchases a cumulative US$80 million in aggregate principal of the original US$250 million of notes issued by the company in March 2013.
CEO and Managing Director Bob Vassie said the surplus cash has allowed St Barbara to buy back more debt at a discount, allowing the company to further strengthen its balance sheet.
Settlement of the repurchase occurred last week. Net payments mounted to approximately $14 million.
St Barbara recorded a net profit of $39.68 million at 30 June 2015.
