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Tullow Oil has taken a significant step ahead in its refinancing efforts, receiving overwhelming backing from bondholders for a deal aimed at reshaping its near-term debt profile.
The company stated in an update on Wednesday that its consent solicitation for $1.285 billion in 10.25 percent senior secured notes due in 2026 expired on April 21, with valid and unrevoked consents accounting for almost 99 percent of the notes’ outstanding principal amount.
According to Tullow, April 24, 2026 is the anticipated settlement date.
Source: newsthemegh.com