ATP Oil & Gas to get new credit facility as part of refinancing plan

By Sara Rosenberg

New York, April 13 - ATP Oil & Gas Corp. plans on getting a new senior secured credit facility, according to a news release.

Proceeds will be used to help refinance its existing bank debt.

Other funding for the refinancing will come from $1.5 billion of senior second-lien notes due 2015.

Completion of the notes is conditioned on the concurrent termination of the existing credit facility and entering into the new credit facility.

ATP is a Houston-based developer and producer of oil and natural gas.

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