St Barbara Limited
(ASX:SBM) has announced it will repurchase US$33 million in senior secured notes as it looks to become net-cash positive.
The notes will be purchased at a 3.3 percent premium to par value.
The company has indicated the move will reduce its future interest expense by approximately AU$3.9 million per annum.
St Barbara will fund the purchase using US dollar cash reserves generated from gold sales.
St Barbara Limited reported a net profit of $169.4 million at 30 June 2016.
