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Aegean Marine Petroleum Network Inc. has today announced that it plans to offer, subject to market and other conditions, convertible senior notes due 2018 of $75 million aggregate principal amount in an underwritten public offering.

Aegean says it expects to grant the underwriter a 30-day option to purchase up to an additional $11.25 million aggregate principal amount of convertible senior notes in connection with the offering.

Prior to May 1, 2018, the notes will be convertible only upon certain circumstances and during specified periods. Upon conversion, the holders will receive, at Aegean's option, shares of Aegean's common stock, cash or a combination of shares and cash.

Jefferies LLC will be acting as the sole book-running manager for the offering.

The notes will be general senior unsecured obligations of Aegean and will pay interest semi-annually in arrears. The principal amount, interest rate, conversion rate, offering price and other terms will be determined at the time of pricing of the offering.

Aegean says it expects to use the net proceeds for general corporate purposes and working capital, including repayment of short-term indebtedness without reduction in commitment.