Tullow Oil closes USD1.8 billion senior secured note offer

Mon, 17th May 2021 17:31

(Alliance News) - Tullow Oil PLC said Monday it has closed its senior secured notes offer.

The London-based oil and gas explorer has completed the offer of USD1.80 billion 10.25% notes due 2026.

The net proceeds will go towards cancelling commitments for existing reserves based lending facility, redeeming senior notes due 2022 and repaying in full convertible bonds due 2021.

Shares in Tullow Oil closed 0.2% lower in London on Monday at 53.94 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com;

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