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Article: BPZ Energy Secures Commitments for Senior Debt Credit Facility.

Article from:
Energy Weekly News
Article date:
July 24, 2009
Copyright

BPZ Resources, Inc. (NYSE Amex:BPZ) announced that its subsidiary, BPZ Exploracion & Produccion S.R.L., has secured commitments for a $70 million reserve based credit facility. The syndication of this Facility is led by Natixis, a major French bank. The other institutions participating in the syndicate include the International Finance Corporation (IFC), Scotiabank and Banco de Credito del Peru.

The Facility will provide the Company's subsidiary, BPZ Exploracion & Produccion, S.R.L., with a revolving line of credit for capital expenditures and working capital and will be secured by a pledge of the ownership units of the borrower. The Facility will be utilized as ...

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