BPZ plans to repay 6.5% convertibles using secured notes proceeds

By Jennifer Chiou

New York, Oct. 1 – BPZ Energy, Inc., which trades as BPZ Resources, Inc., announced that it intends to offer $150 million of senior secured notes due 2019, the proceeds of which will be used to repay its existing 6.5% convertible senior notes due March 2015.

According to a news release, the company plans to issue the new convertibles in a private placement to eligible investors, subject to market conditions.

Remaining proceeds will be used for general corporate purposes.

BPZ Energy is an oil and gas exploration and production company based in Houston.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.