With numerous institutional funds clamoring to have a stake in oil and gas,non-investment-grade borrowers looking to raise capital don't have to go very far,says Mark Ammerman,managing director and head of Scotia Capital's U.S.energy office in Houston."If a non-investment-grade E&P wants to raise 2 billion for an acquisition,instead of getting it all from their bank group,the model now is to raise 300-to 500 million from the banks and place the remaining piece with the institutional-investor market.This group includes insurance companies,hedge funds and others who have appetites for five-to seven-year funded debt at spreads slightly above the banks'.
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机译：Scotia Capital USenergy办事处常务董事兼负责人Mark Ammerman表示，由于众多机构基金争先恐后地拥有石油和天然气的权益，非投资级借款人想要筹集资金并不需要走太远。 “如果非投资级勘探与生产公司想通过收购筹集20亿美元，而不是从银行集团那里全部收购，现在的模式是从银行筹集300至5亿美元，并将其余部分投入机构-投资者市场。该组包括保险公司，对冲基金和其他对五到七年期国债有兴趣的人，它们的利差略高于银行。
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