Tullow completes $2.5bn refinancing

Following the resolution of the Ghana-Côte d’Ivoire border dispute, paving the way for production to increase, Tullow Oil has completed the financing of $2.5bn of reserves-base lending (RBL) facilities. The total is split between a commercial bank facility of $2.4bn and an International Finance Corporation facility of $100m. The fully committed facilities are revolving, with a three-year grace period and final maturity of November 2024.