Bloomberg: ATP Oil & Gas Gets Financing Before Possible Filing
ATP Oil & Gas Corp. is said to be arranging approximately $600 million in debtor-in-possession financing from Credit Suisse Group, ahead of a possible bankruptcy filing, a Bloomberg article reported.
The article said that ATP, an oil exploration company, has an $89 million interest payment due in November, and has been late with its production due dates as well as has faltered in its offshore oil developments.
The company’s first lien bondholders has hired Houlihan Lokey if there is a restructuring of the company, the article said.
To read the Bloomberg article in its entirety, click here.
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