Tullow Oil PLC (TLW.LN) said Wednesday that it has refinanced $2.50 billion of credit facilities.
The company said that the fully committed facilities are revolving, with a three-year grace period and a final maturity of November 2024.
Tullow has also decided to reduce the commitments of its existing revolving corporate-credit facility to $600 million from $800 million, it said.
The joint effect of both moves will be to leave it with total headroom of $900 million, with no material near-term debt maturities, Tullow added.
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(END) Dow Jones Newswires
November 29, 2017 02:29 ET (07:29 GMT)