Tullow Refinances Its Corporate Revolving Credit Facility

Source: www.gulfoilandgas.com 4/7/2014, Location: Europe

Tullow Oil plc (Tullow) is pleased to announce that it has refinanced its US$500 million corporate revolving credit facility and that it has successfully increased the size of the facility to US$750 million and extended the tenor to April 2017.

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:
“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 benefitting from strong cash flow from production, the Company is well-financed with strong liquidity and considerable financial flexibility.”


Chile >>  8/5/2022 - Innergex Renewable Energy Inc. (TSX: INE) (“Innergex” or the “Corporation”) announces the successful completion of a US$803.1 million (CAN$1.032 billi...
Sweden >>  8/5/2022 - Highlights
- USD 12.9 billion gain recorded to income statement resulting from the lex asea distribution related to the Aker BP transaction
...


Turkey >>  8/5/2022 -  Valeura Energy Inc. (VLE) (“Valeura”), the upstream oil and gas company with assets in the Thrace Basin of Turkey and in the offshore Gulf of Thailan...
United States >>  8/5/2022 - Global Partners LP (GLP) (“Global” or the “Partnership”) reported financial results for the second quarter ended June 30, 2022. ...

Canada >>  8/4/2022 - Murphy Oil Corporation (MUR) announced its financial and operating results for the second quarter ended June 30, 2022, including net income attributab...
China >>  8/4/2022 - -Expro Group Holdings N.V. (XPRO) (“Expro”) reported financial and operational results for the three and six months ended June 30, 2022.

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.