Thursday, February 24, 2011

ATP Oil & Gas (ATPG) Reduces First Lien Interest Rate

This is bullish for the notes that I mentioned the other day but have yet to do a full writeup on.
ATP Oil & Gas Corporation has amended its existing first lien facility to reduce its interest rate from 11% to 9% per annum, while improving the facility and extending the maturity date

2 comments:

CP said...

The crude oil to natural gas ratio is at record levels. (This has little significance because the two are not very good substitutes for one another.)

LangoneRedStudyGroup said...

I came very close to adding to my ATPG position the other day when it briefly dipped into the low 17's but chickened out (probably prudent, because enough of my portfolio is already attached to this 1 company, but man would that have looked good in hindsight.)

I expect the stock to jump 10% when it gets drilling permits issued. After the latest surge in oil prices, I have to believe the political pressure to issue these is going to be pretty extreme.