Far East Energy Corporation (FEEC) announced the intention of Far East Energy (Bermuda), Ltd., a wholly owned subsidiary of Far East Energy Corporation, to offer, subject to market conditions, senior secured notes due 2017 in a private placement not registered under the Securities Act of 1933, as amended.
Far East Energy (Bermuda) expects to use the net proceeds from the notes offering to repay all of the indebtedness outstanding under its existing $20.3 million secured term loan and for drilling and completion capital, general corporate purposes and to fund a portion of the interest payments under the notes.
There can be no assurance that the issuance and sale of any notes or the repayment of our existing indebtedness will be consummated.
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