The notes will be repurchased at a 3.3% premium to par value, being the optional redemption price from October 2016.
The purchase will save the company around $A6.5 million per annum in interest expenses. The company is due to pay the scheduled biannual interest payment, prior to the repurchase at the end of the month.
Net payments for the repurchase are expected to be around $US57 million, including the principal repayment, premium and accrued interest.
The repurchase will be funded from St Barbara's US dollar cash reserves. The company expects its cash balance to be around $A70 million.
The latest repurchase will take St Barbara's cumulative repurchase total to $177 million in aggregate principal of the original $250 million in 2013 notes.
There are $73 million worth of notes outstanding with a coupon rate of 8.875% per annum, which mature in April 2018.
St Barbara shares closed 1.8% lower at $A3.13.
