Fieldwood sets Monday bank meeting for $2.63 billion credit facility

By Paul A. Harris

Portland, Ore., Sept. 5 - Fieldwood Energy LLC scheduled a Monday bank meeting for its $2,625,000,000 credit facility, according to a market source.

The deal includes a $900 million seven-year first-lien term loan via left lead arranger Citigroup Global Markets and $1.725 billion eight-year second-lien term loan via left lead arranger J.P. Morgan Securities LLC.

Deutsche Bank, Bank of America and Goldman Sachs are the joint lead arrangers.

Proceeds will be used to help fund the acquisition of Apache Corp.'s Gulf of Mexico shelf business by Fieldwood, a portfolio company of Riverstone Holdings LLC, for $3.75 billion.

The borrower is a Houston-based acquirer and developer of conventional oil and gas assets.

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