8th Apr 2014 14:50
LONDON (Alliance News) - Tullow Oil Tuesday said it has completed its offering of USD650 million worth of senior notes due in 2022, and will use the proceeds to repay some debts it has under its credit facilities.
The company had said Monday that it had refinanced its revolving credit facility, increasing it by 50% to USD750.0 million. The refinanced facility has been extended to April 2017.
The arrangement is a fully committed, secured and revolving credit facility and replaces the previous USD500.0 million facility which was due to expire in November 2014.
The stock was trading at 810.18 pence Tuesday, up 10.18 pence or 1.3%.
By Anthony Tshibangu; [email protected];
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