Tullow plans Sh65bn note issue to settle debt
6 days ago, 09:18
British oil explorer Tullow Oil says it intends to raise Sh66 billion ($650 million) through senior notes to settle debt incurred earlier but is due in two years’ time. The firm said new notes would be repaid in full in 2025. They will be guaranteed by the company’s subsidiaries including the Kenya unit. The interest will be payable semi-annually, but the rate, offering price and other terms are yet to be determined, and are subject to market conditions, it added. In 2014, the oil explorer, whos ...
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