Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



BPZ Floats Convertible Notes Issue

BPZ Resources (NASDAQOTH: BPZRQ  ) is making a fresh attempt to raise some capital. The company announced it has launched an issue of convertible senior notes in an underwritten public offering. Roughly $110 million in principal amount is being floated via a series of notes maturing in 2017. The company also intends to grant the issue's underwriter, Raymond James, a 30-day option to purchase additional notes to cover over-allotments, if any.

BPZ added that the International Finance Corporation holds the right to participate in the issue for up to 45 days after receiving notification of it.

The company said it intends to use its proceeds from the issue to repurchase some of its outstanding 6.5% convertible senior notes maturing in 2015. It will also use the monies "for general corporate purposes, including to fund its exploration and production efforts or other projects or to reduce or refinance its outstanding debt or other corporate obligations."

The interest and conversion rates, plus other terms of the notes, will be determined at the time of their pricing.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2644395, ~/Articles/ArticleHandler.aspx, 9/29/2016 3:15:09 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,183.17 -156.07 -0.85%
S&P 500 2,154.76 -16.61 -0.76%
NASD 5,279.84 -38.71 -0.73%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
BPZRQ $0.00 Down +0.00 +0.00%
BPZ Resources CAPS Rating: **