This is extremaly simple to folow and understand:

"In December 2007 the company issued US $600 million second lien eight-year notes (“Senior Notes”) at an issue price of 98.657 for
net proceeds of US $575 million after fees and expenses.

A portion of the proceeds was used to repay the US $180 million Oil Sands Term Loan, to fully repay drawn amounts and then cancel the company’s conventional oil and gas line of credit and to fund a one-year interest reserve account in the amount of US $63.6 million. The remainder of the proceeds are targeted to partially fund the construction of Algar.

In order to mitigate half of the foreign exchange exposure on the Senior Notes, the company entered into a cross currency swap to
fix one half of the Senior Notes’ principal and interest payments in Canadian dollars.

The swaps provide for a fixed payment of C$304.8 million in exchange for receipt of US $300 million on December 15, 2015. The swaps also provide for semi-annual interest payments
commencing June 15, 2009 until December 15, 2015 at a fixed rate of 10.795 percent based on a notional C$304.8 million of debt in
exchange for receipt of semi-annual interest payments until December 15, 2015 at a fi xed rate of 10.25 percent based on a notional US$300 million of debt."

Good luck.