Tullow, EnQuest drill for HYBs in dollars

LNG
By Stefanie Linhardt
03 Apr 2014

Tullow Oil and EnQuest joined the rush to access the high yield market before Easter with the week’s only two dollar-denominated transactions.

Tullow, the UK company that explores for oil in Africa, announced plans to raise $500m of eight year notes on Wednesday and ended up selling $650m of the notes on Thursday.

The unsecured bond with B1/BB- ratings is callable after three years.

Bookrunners Barclays, BNP Paribas, Bank of ...

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