Tullow Refinances $2.50 Billion in Credit Facilities
29 November 2017 - 6:44PM
Dow Jones News
By Adam Clark
Tullow Oil PLC (TLW.LN) said Wednesday that it has refinanced
$2.50 billion of credit facilities.
The company said that the fully committed facilities are
revolving, with a three-year grace period and a final maturity of
November 2024.
Tullow has also decided to reduce the commitments of its
existing revolving corporate-credit facility to $600 million from
$800 million, it said.
The joint effect of both moves will be to leave it with total
headroom of $900 million, with no material near-term debt
maturities, Tullow added.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
November 29, 2017 02:29 ET (07:29 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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