IN BRIEF: Tullow Oil shares rise on result of tender offer
Tullow Oil PLC - Africa and South America-focused oil and gas exploration company - Announces results of its offer to purchase a portion of its outstanding USD800.0 million 7.0% senior notes due 2025. Company increases the tender consideration to USD100 million. The final acceptance amount is USD166.5 million. Company will use around USD100.0 million of cash on its balance sheet to fund the purchase of USD166.5 million. The transaction will deliver value accretion of USD86.3 million. Read More