ATP Oil & Gas to launch $1.6 billion credit facility on Tuesday via Credit Suisse

By Paul A. Harris

St. Louis, June 9 - ATP Oil & Gas Corp. will launch a $1.6 billion credit facility in a Tuesday conference call, according to a market source.

Credit Suisse is the lead arranger for the refinancing deal.

The facility will comprise a $1 billion five-year term loan and a $600 million 2.5-year asset sale bridge loan.

Proceeds will be used to refinance the Houston-based company's existing credit facility and to repay $230 million of senior unsecured debt.

ATP in involved in the acquisition, development and production of oil and natural gas properties in the Gulf of Mexico, the Dutch Sectors of the North Sea and the United Kingdom.

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