8 April 2026
Refinancing Transaction Update: Requisite Consents Received in Consent Solicitation Relating to $1,285,245,000 10.25% Senior Secured Notes due 2026
Further to recent announcements regarding the proposed refinancing transaction (the “Refinancing Transaction”), Tullow Oil plc (“Tullow” or the “Company”) is pleased to announce that as at 11 P.M. (UK time) on 7 April 2026, holders of the Notes (the “Holders”) representing more than 97% of the aggregate outstanding principal amount of the existing Notes have provided consents to approve (i) certain amendments (the “Proposed Indenture Amendments”) to the indenture dated as of 17 May 2021, as amended, supplemented or otherwise modified from time to time (including as supplemented by the first supplemental indenture dated 18 December 2025, the “Indenture”) providing for the issuance of the Notes and to the intercreditor agreement originally dated 6 May 2021, as amended, supplemented or otherwise modified from time to time (including as amended and restated on 11 November 2023), (ii) the release of the existing Notes and issuance of New Notes as a new series of notes under the Amended and Restated Indenture and (iii) certain waivers under the Indenture to permit the release of Collateral in connection with the Refinancing Transaction (the “Waiver” and, together with (i) and (ii), the “Amendments”), in each case upon the terms, and subject to the conditions set forth in the consent solicitation statement, dated 25 March 2026 (the “Consent Solicitation Statement”).
Read more