Far East Energy plans senior secured notes, subject to market conditions

By Aleesia Forni

Columbus, Ohio, July 12 - Far East Energy (Bermuda) Ltd. plans to offer senior secured notes due 2017 in a Rule 144A and Regulation S transaction that is subject to market conditions, according to a company release.

The company expects to use proceeds to repay all the outstanding debt under its $20.3 million secured term loan, for general corporate purposes and to fund a portion of the interest payments under the notes.

Far East Energy (Bermuda) is a wholly owned subsidiary of Houston-based Far East Energy Corp., which focuses on coalbed methane exploration and development in China, with offices in Beijing and Taiyaun City, China.

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