Tullow Oil

Tender offer results provide pause for thought

  • Sectors : Resource
  • Companies : Tullow Oil

Ratings and price correct at time of issue.

  • Tullow Oil

    Closing Price: 36.3p

  • RATING 15/01/20

  • PREVIOUS RATING 09/12/19

    UNDER REVIEW

DAVY VIEW

Tullow has announced the final results of its recent tender offer for its 7% March 2025 notes. $141m was validly tendered at a price of 92%, with Tullow previously offering to buy back up to $300m. Bondholders are clearly now comfortable holding on to get par at maturity and this is very positive to see.

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Dec 15 2023, 15:20 GMT

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