BPZ Energy Inc. - 2011-07-08
Description
The company has entered into a $75 million senior secured debt financing with Credit Suisse AG Cayman Islands Branch, as administrative agent, and a syndicate of lenders.
The New Facility includes as security certain assets related to the offshore Block Z-1, associated oil and gas production and revenues, and required debt reserve amounts.
Credit Suisse International served as Book-Runner and Lead Arranger and Standard Bank plc served as Mandated Lead Arranger. BPZ Exploracion & Produccion SRL is the borrower along with guarantors BPZ Resources Inc. and BPZ Energy LLC.