Equities
Tullow Oil to Implement Refinancing of $1.3 Billion Senior Secured Notes
Tullow Oil's (TLW.L) proposed refinancing of its outstanding $1.29 billion of 10.25% senior secured notes due 2026 received consent from over 99% of the note holders.As such, all holders of the notes will have a portion of their existing securities redeemed on Thursday, the independent energy company said Wednesday.Holders will also receive accrued and unpaid interest on their existing notes, as well as a 1% fee based on the aggregate principal amount of the outstanding notes as of the consent solicitation period's expiration on Tuesday.
$TLW.L