Tullow secures commitments for extension of its Revolving Credit Facility
19 November 2024 - Tullow is pleased to announce that it has secured approvals from its lenders to extend the maturity of its Revolving Credit Facility (RCF) to 30 June 2025. Tullow has sized the facility to $250 million to align with lower headroom needs and to continue to reduce financing costs, with all other terms unchanged.
Richard Miller, Chief Financial Officer commented:
"Extending the RCF is a key step in our refinancing plans. The facility size provides us with our targeted liquidity headroom whilst reducing overall financing costs. The extension was materially oversubscribed, demonstrating Tullow's strong and enduring relationships with our lenders and providing us with confidence as we progress our plans to address our remaining debt maturities."
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| Tullow Investor Relations Nicola Rogers | Camarco (Media) Billy Clegg Georgia Edmonds Rebecca Waterworth |
Notes to editors
Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company's operations are focused on its West-African producing assets in Ghana, Gabon and Côte d'Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghana stock exchanges (symbol: TLW). For further information, please refer to: www.tullowoil.com.
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