BPZ Energy greenshoe exercised, lifting convertibles to $161 million

By Marisa Wong

Milwaukee, Feb. 16 - BPZ Energy Inc. said that the underwriter of its previously announced Rule 144A offering of 6.5% convertible senior notes due March 1, 2015 exercised the $21 million over-allotment option in full, increasing the size of the issue to $161 million from $140 million.

The International Finance Corp. holds the right to participate in the offering until March 15, which if exercised would increase the size of the offering.

Net proceeds will be used for general corporate purposes.

Raymond James & Associates was the bookrunner.

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

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