Tullow Oil to offer $1.8 billion in notes, gets $600 million loan

Tullow Oil to offer $1.8 billion in notes, gets $600 million loan - Copyright (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html

By Reuters

Published on 29/04/2021 - 20:30•Updated 25/04/2024 - 11:58

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(Reuters) - Tullow Oil Plc said on Thursday it was offering notes worth $1.8 billion and had received $600 million in commitments from lenders of a revolving loan, as the London-listed company looks to refinance its debt.

The oil and gas company said the senior notes are due in 2026, while the loan matures in 2024. It said the latest funding would be partly used to repay and cancel all outstanding amount under its existing reserves-based lending facility.