REG - Tullow Oil PLC - Tullow secures commitments for extension of RCF

Tullow OilAnnouncement

19/11/2024 07:00

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RNS Number : 7017M  Tullow Oil PLC  19 November 2024

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."

 

 CONTACTS
 Tullow Investor Relations                    Camarco (Media)

                                            (+44 20 3781 9244)
 ir@tullowoil.com (mailto:ir@tullowoil.com)

                                            Billy Clegg
 Nicola Rogers

 Matthew Evans                                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 (http://www.tullowoil.com/) .

Follow Tullow on:

Twitter: www.twitter.com/TullowOilplc (http://www.twitter.com/TullowOilplc)

YouTube: www.youtube.com/TullowOilplc (http://www.youtube.com/TullowOilplc)

Facebook: www.facebook.com/TullowOilplc (http://www.facebook.com/TullowOilplc)

LinkedIn: www.linkedin.com/company/Tullow-Oil
(http://www.linkedin.com/company/Tullow-Oil)

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