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Tullow Oil: Pricing of $800m Senior Notes


16 March 2018 - Tullow Oil plc (“Tullow” or the “Company”) is pleased to announce that it has priced its offering of $800 million aggregate principal amount of 7% senior notes due 2025 at par (the “Notes”). The size of the offering has been increased from $650 million, indicated at launch on 12 March, to $800 million.

Interest will be payable semi-annually. The offering is expected to complete on or about 23 March 2018, subject to customary conditions precedent for similar transactions. The Notes, whose net proceeds will be used to pay transaction fees, costs and expenses, redeem in full the Company's senior notes due 2020 and repay certain existing indebtedness under the Company's credit facilities, will be the general obligations of the Company and guaranteed by certain of the Company's subsidiaries.



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