Tullow announces pricing of $650 million senior notes

Tullow announces pricing of $650 million senior notes

Tullow Oil plc (“Tullow” or the “Company”) is pleased to announce that it has priced its offering of $650 million aggregate principal amount of 6% senior notes due 2020 at par (the “Notes”). The size of the offering has been increased from $500 million, indicated at launch on 24 October, to $650 million.

Interest will be payable semi-annually. The offering is expected to complete on or about 6 November 2013, subject to customary conditions precedent for similar transactions. The Notes, whose net proceeds will be used to repay certain existing indebtedness under the Company’s credit facilities (but not cancel commitments under such facilities), will be the senior obligations of the Company and guaranteed by certain of the Company’s subsidiaries.

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This announcement does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security and shall not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction.

Source: www.tullowoil.com

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