BPZ Resources to sell $150 million five-year senior secured notes

By Paul A. Harris

Portland, Ore., Oct. 2 – BPZ Resources, Inc. announced in a Thursday press release that it intends to offer $150 million of senior secured notes due 2019, subject to market conditions.

The deal will be formatted according to Rule 144A, Regulation S and Regulation D.

The Houston-based company plans to use the proceeds to repay its 6½% convertible senior notes due March 1, 2015 and for general corporate purposes, including planned capital expenditures for field development and drilling in 2014 and 2015 and infrastructure.

BPZ Resources is an independent oil and gas exploration and production company with operations in Peru and Ecuador.

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