BPZ Resources, Inc. (NYSE: BPZ) announced that the company entered into a $75 million senior secured credit facility with a lending syndicate led by Credit Suisse AG Cayman Islands Branch.

Borrowings under the new facility are available for Block Z-1 and other commitments and expenses. Interest on the facility accrues at the London interbank rate (LIBOR) plus a margin of 9% per annum and is payable quarterly. The facility matures on July 7, 2014 with amortization of the loan to begin January 2013 based on a scheduled repayment plan. Also, the ...


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