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BPZ Resources repurchases $85 million of 6.5% convertibles due 2015
By Tali David
Minneapolis, Sept. 24 - BPZ Resources, Inc. repurchased $85 million of its 6.5% convertible senior notes due March 2015 with the proceeds from a new 8.5% convertible offering, according to a press release.
As previously reported, the company priced $125 million of the new four-year convertibles at a 10% discount to par and with a 75% initial conversion premium on Sept. 19.
BPZ Resources is a Houston-based oil and gas exploration and production company.
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