Apache readies swift bridge takeout
The takeout of the US$5bn bridge loan backing Apache Corp’s US$7bn purchase of BP’s assets is readily taking shape, market sources said. Following the completion of a larger than expected equity raising, the exploration and production concern is poised to proceed with the bank loan and debt offering that would fully fund the all-cash acquisition.Apache Corp., which is buying US$7bn worth of assets from BP, is readying the takeout of the US$5bn bridge loan backing the purchase, according to market sources.
This content is for Subscribers only
To access full IFRe.com story content you must be a subscriber. Please use the following link to request your Trial Access.
