Star Gas Partners LP (NYSE: SGU) said Friday that the company will redeem $50 million in debt due in 2013, according to Associated Press.
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After the redemption, the company, which is the nation's largest retail distributor of home heating oil, will owe $82.5 million on the 10.25 percent senior notes.
In redeeming the securities, the company will save $5 million annually in interest expense.
Star Gas added 1 cent to $4.16 at Friday’s close.
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