Bedell Cristin advises FTSE 250 company on high profile, multi billion pound transaction

Bedell Cristin has acted as Jersey counsel to Tullow Oil plc, giving corporate and banking advice on its offering of $1,800,000,000 senior secured notes due 2026 and its $600,000,000 super senior revolving credit facility maturing in December 2024; working alongside leading law firm, Latham & Watkins.

The company will use the proceeds of the notes to repay its existing Reserves Based Lending Facility, to redeem its senior notes due 2022, and to repay its convertible bonds due 2021.

Tullow Oil, a FTSE 250 company, is an independent oil and gas exploration and production company focused on Africa and South America, with interests in over 50 exploration and production licences across 11 countries.

Corporate Partner, Sara Johns led the Bedell Cristin team with assistance from Alasdair Hunter, Partner, Antony Clerehugh, Counsel and Louise Ridgway, Associate.

Commenting on the transaction, Sara said:

"From a personal perspective, I am particularly pleased to have been able to assist Tullow successfully achieve another important milestone. I'm also delighted that the wider Bedell Cristin team was again able to demonstrate the strength and depth of its expertise on this high profile, high value transaction. We wish Tullow every success as it moves forward to the next exciting stage of its development."