Tullow Oil pushes back redemption of 6¼% notes due 2022 to May 17

By Marisa Wong

Los Angeles, May 7 – Tullow Oil plc revised the redemption of its $650 million 6¼% senior notes due 2022 (Cusip: G91235AB0, 899415AC7), according to a notice.

Tullow Oil will now redeem the notes on May 17 instead of May 14 as stated in a previous conditional notice of redemption, which has since been rescinded.

The notes will be redeemed at par plus accrued interest to but excluding the redemption date.

The redemption is conditioned on new financing. As previously announced, the issuer plans to use proceeds from its $1.8 billion offering of new five-year notes to fund the redemption.

Tullow Oil is a London-based oil and gas exploration and production company.

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