Tullow Oil plc has appointed four independent non-executive directors, following its refinancing transaction and subject to shareholder approval. DIRECTORS On 20 February, the company entered into a binding lock-up agreement with holders of approximately 66% of its $1,285,245,000 10.25% senior secured notes due in May 2026, and with Glencore Energy UK Ltd. The deal releases Tullow’s senior secured notes […]
Tag: Glencore Energy UK Ltd
Tullow signs debt refinancing deal
Tullow Oil plc has signed a binding lock-up agreement for refinancing of circa 66% of its $1,285,245,000 (£953m) 10.25% senior secured notes, due in May 2026. REVENUE The agreement, with debt holders including Glencore Energy UK Ltd’s $400 million notes,is expected to complete during the second quarter of 2026. The Irish company said that the transaction released its senior […]
Tullow Oil signs $400m debt facility with Glencore
Tullow Oil plc has secured a $400 million five-year debt facility and off-take contracts with Glencore Energy UK Ltd. BUSINESS PLAN The Africa-focused company will be able to draw down funds over a period of 18 months to manage its senior notes maturing in March 2025. Tullow has also signed oil marketing and offtake contracts with Glencore for […]