Tullow refinances and expands Norwegian exploration loan facility

Region:

Europe

Jonathan Bell

Tullow Oil has refinanced its NOK2 billion ($330 million) Norwegian exploration revolving credit facility (RCF), and at the same time it has successfully increased the size of the facility to NOK3 billion ($500 million). The maturity date has also been extended, providing availability to the end of 2017 – thus giving a tenor of 3.5 years.

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