Africa-focused Tullow Oil emerges from overhaul with $1.8 bi

Africa-focused Tullow Oil emerges from overhaul with $1.8 billion bond


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LONDON (Reuters) - Tullow Oil’s $1.8 billion bond, which was launched to help it manage a $2.4 billion debt pile, drew more interest from investors than expected after the Africa-focused producer’s financial overhaul, the chief executive said on Friday.
Workers walk past storage tanks at Tullow Oil's Ngamia 8 drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. REUTERS/Baz Ratner/File Photo
Rahul Dhir also told Reuters the firm did not plan to sell more oil and gas fields after disposing of assets worth $750 million following last year’s oil price plunge, including its $575 million sale of a Uganda project stake to Total.

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