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The arrangement is a fully committed, secured and revolving credit facility and replaces the previous facility, which was due to expire in November 2014. Mandated Lead Arrangers are Bank of America Merrill Lynch, BNP Paribas, Credit Agricole Corporate & Investment Bank, HSBC Bank, ING Bank, Natixis, Société Générale, Standard Chartered Bank, The Royal Bank of Scotland and Standard Bank.
Ian Springett, Chief Financial Officer, Tullow Oil plc, commented today:
“This $750 million corporate facility forms an important piece of our debt capital structure which also includes $3.5 billion of reserve based lending facilities and $1.3 billion of senior notes, the second tranche of which was priced last week. We have taken advantage of currently strong debt markets to increase our bank commitments, further diversify our sources of funding and extend the maturity of our debt. With Tullow also benefiting from strong cash flow from production, the Company is well-financed with strong liquidity and considerable financial flexibility.”
Contacts
Tullow Investor Relations | Camarco (Media) |
---|---|
ir@tullowoil.com |
(+44 20 3757 4980) |
Notes to editors
Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow's operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW). For further information, please refer to: www.tullowoil.com.
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