New York, Aug. 3 - ATP Oil & Gas Corp. said it completed an upsized $175 million offering of series A cumulative perpetual preferred stock that pays a non-cash dividend of 13.5%.
The deal was originally announced at $100 million.
Prospect News previously reported that Credit Suisse First Boston had the books for the private placement.
Proceeds will be used to accelerate the company's development activities and for general corporate purposes.
ATP is a Houston-based company focused on the development and production of natural gas and oil in the Gulf of Mexico and the North Sea.
| Issuer: | ATP Oil & Gas Corp.
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| Issue: | Series A cumulative perpetual preferred stock
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| Amount: | $175 million
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| Maturity: | Perpetual
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| Dividend: | 13.5% PIK, switches to cash after April 2011 or if term loan is repaid
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| Call: | February 2006 onwards
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| Bookrunner: | Credit Suisse First Boston
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| Settlement: | Aug. 3
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| Distribution: | Private placement
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