Tullow Oil in demand after refinancing plans
A look at the major movers on the London market on Thursday oil
Tullow Oil PLC (LON:TLW) is one of the day s risers after it unveiled a refinancing.
The exploration and production group has begun an offer of $1.8bn worth of senior secured notes due in 2026 and received commitments for a $500mln revolving credit facility and a $100mln letter of credit facility.
The proceeds with be used to push out the timeframe for its debt obligations, including redeeming $650mln worth of senior notes due in 2022 and repaying $300mln of convertible bonds due this July.
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Tullow Oil PLC in demand after refinancing plans
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