RE: Only a mug would lend $1.8bn...4 May 2021 13:30
Of course there is a risk the bond issue may not be fully taken up, but LTHs have lived with financial tightrope Tullow has been walking for quite sometime now and, for once, this has to be seen as a very *positive* initiative from Rahul et al rather than the 'company threatening' financing scenarios we've being living with, one after another, to-date. Some bondholders will be supportive and re-invest, some won't, but given the recovery strategy for the company and the generally accepted 'forward view' of a healthy future oil price, then why wouldn't new investors be attracted by the good coupon rate offered ?.