Resolute Energy launches $400 million revolver

By Sara Rosenberg

New York, Jan. 9 - Resolute Energy Partners LP held a bank meeting on Wednesday to launch its proposed $400 million five-year senior secured revolving credit facility, according to a market source.

Wachovia is the lead bank on the deal.

Price talk on the revolver is Libor plus 137.5 basis points, the source said.

Proceeds will be used to refinance existing bank debt and for general corporate purposes.

The revolver is being done in connection with the company's initial public offering of 13.75 million common units.

Resolute Energy is a Denver-based independent oil and gas partnership.

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