RE:RE:RE:C$200 Million Unsecured Notes Offering T.ATH
Here's a cut and paste from their Q2 report . . .
"Cash Flow: Adjusted Funds Flow of $149 million with an Operating Netback of $52.59/bbl. Athabasca (Thermal Oil) expects to generate $1.4 billion of Free Cash Flow1 during the timeframe of 202427."
If they're going to generate $1.4 billion of FCF, why borrow $200 million ? They already have enough cash to pay out existing debt.
I understand that the interest rate is 3 points lower but just don't get why they're doing this given their income stream and cash on hand.