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Tullow Oil Plc - Tender Offer (UMDA) - Launch

Tullow launches Tender Offer for a portion of its 2025 Senior Notes

Tullow Oil plc announces its offer to purchase for cash its 7.00% senior notes due 2025 bearing ISIN: USG91237AA87 and CUSIP: G91237AA8 (the “Reg S Notes”) up to a total Tender Consideration of $75,000,000 at prices to be determined pursuant to an Unmodified Dutch Auction Procedure (as defined below)


12 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Luxse


"June 12, 2023. Tullow Oil plc (referred to as the “Company,” “we,” or “us”), hereby announces an invitation to the Eligible Holders (as defined below) of its outstanding Reg S Notes to tender their Reg S Notes for cash (the “Offer”) for purchase by the Company at prices to be determined pursuant to an Unmodified Dutch Auction Procedure (as defined below) up to a Tender Consideration (as defined below) of $75,000,000 (although the Company reserves the right, in its sole discretion, to increase or decrease the proposed Tender Consideration), on the terms and subject to the conditions set forth in the offer to purchase dated June 12, 2023 (the “Offer to Purchase”) prepared in connection with the Offer."


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"Purpose of the Offer


The Company is undertaking the Offer as part of its plan to optimize and proactively manage its cash, debt profile and capital structure. The Reg S Notes purchased by the Company pursuant to the Offer will be retired and cancelled.


Summary of the Offer"


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