Tullow secures commitments for extension of RCF
Tullow extends revolving credit facility to 30 June 2025 and reduces size to $250 million.
- RCF maturity date 30 June 2025
- RCF size $250 million
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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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