RNS Number : 2930B
Tullow Oil PLC
07 October 2020
RBL redetermination confirms debt capacity of $1.8 billion and headroom of c.$500 million; Capital Markets Day to be held on 25 November 2020
7 October 2020 - Tullow Oil plc (Tullow) is pleased to announce that it has completed the bi-annual redetermination of its RBL credit facility with $1.8 billion of debt capacity approved by the lending syndicate. As a result, the Group retains c.$500 million liquidity headroom of undrawn facilities and free cash at the start of the fourth quarter of the year, which the Board deems appropriate given Tullow's capital commitments.
At Tullow's request, the next redetermination will commence following Tullow's Capital Markets Day, which is scheduled for 25 November 2020, and is expected to be completed in January 2021.
CONTACTS
|
|
|
|
Tullow Oil plc
(London)
(+44 20 3249 9000)
Chris Perry, Matthew Evans (Investors)
George Cazenove (Media)
|
Murrays
(Dublin)
(+353 1 498 0300)
Pat Walsh
Joe Heron
|
Notes to editors
Tullow is an independent oil and gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 70 exploration and production licences across 15 countries.
For further information, please refer to our website at www.tullowoil.com.
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc
YouTube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc
LinkedIn: www.linkedin.com/company/Tullow-Oil
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
[email protected] or visit
www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy.
END
MSCFSWFMMESSEFS