BNP Paribas Successfully Syndicates Rosetta Resources' $475 Million Senior Secured Credit Facilities.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- BNP Paribas closed syndication of the $475 million senior secured credit facilities consisting of a $400 million first-lien senior revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility and a $75 million second-lien term loan for Rosetta Resources backing its acquisition of Calpine's oil and gas properties. Launched late last month, the facilities were substantially oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. and priced at the tight end of expectations. Houston, Texas-based Rosetta Resources is an independent energy company engaged in the acquisition, production, exploration and development of oil and gas. This former subsidiary of Calpine Corporation was created to hold Calpine's oil and gas assets in California, the Rockies, Offshore Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and South Texas. In July, Rosetta raised $725 million through an initial 144A offering of its equity and used that along with $325 million of debt financing provided by BNP Paribas to fund the acquisition. About BNP Paribas BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. The most profitable bank in the Euro zone, it has a presence in 85 countries with close to 100,000 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking. BNP Paribas provides a full array of financial products through a portfolio of brands that cover a variety of distribution channels. With offices in New York, BNP Paribas in North America offers a broad range of corporate, investment banking and securities brokerage activities. With locations in all the major corporate and financial centers across the United States and Canada, BNP Paribas in North America serves a world-class client base of multinational corporate and mid-cap companies, major issuers and institutional buyers. As a registered member of the NYSE NYSE See: New York Stock Exchange , a NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). broker-dealer and member of SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , BNP Paribas Securities Corp. trades and markets a vast array of global and domestic fixed income and equity products |
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