Houston, April 16, 2014 (GLOBE NEWSWIRE) -- BPZ Energy (NYSE: BPZ) (BVL: BPZ), today announced that the Company has entered into a privately-negotiated agreement under which it will retire $26.0 million in aggregate principal of the Company's outstanding 6.50% Convertible Senior Notes due March 2015 ("2015 Notes"), in exchange for its issuance of $25.0 million in aggregate principal of new 8.50% Convertible Senior Notes due October 2017 ("New Notes").
Following this transaction, $59.9 million in aggregate principal amount of the 2015 Notes will remain outstanding with terms unchanged. The Company will also have outstanding $168.7 million in aggregate principal amount of its 8.50% Convertible Senior Notes due 2017 with terms unchanged.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
