BPZ Resources marketing $150 million five-year secured notes via Seaport Global

By Paul A. Harris

Portland, Ore., Oct. 6 – BPZ Resources, Inc. is in the market with a $150 million offering of senior secured notes due 2019, according to a market source.

The deal is expected to price late this week.

Seaport Global, an investment bank formed by the combination of Seaport Group LLC and Global Hunter Securities LLC, is the bookrunner for the Rule 144A, Regulation S and Regulation D deal.

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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