Houston-based Fieldwood Energy LLC is proposing a $625 million add-on loan package to finance an acquisition that beefs up its offshore/onshore petroleum reserve assets that are already the largest in the Gulf Coast region.

A Fieldwood spokesman confirmed the company has proposed a $200 million add-on to its $700 million first-lien facility, and $425 million add-on to its $1.73 billion second-lien facility. The existing first-lien loan’s price is Libor plus 287.5 bps, while the second-lien is priced at Libor plus 712.5.

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