What a difference a word makes.  Tullow and Kosmos have both made statements stating the preliminary discussions between the two are taking place, with a

Rahul Dhir, the CEO of Tullow has indicated his intention to resign from Tullow in 2025.  This is a surprise with Tullow entering into a crucial period with

What about the LOC? Tullow has downsized its undrawn RCF from $500m to $250m and extended to June 2025, with no mention of the LOC. Tullow has a

Only $141m of Tullow Sub Bonds were tendered at 92%, spending c.$130m of the $300m allocated to the tender. With the bonds trading in the

S&P downgraded Tullow’s corporate rating to SD (selective default) as a result of the sub-par tender for the 2026 Senior Secured Notes.  We have previously highlighted that this was probable, but still

Tullow is a frustrating name for us as we were unable to convince clients about the merits of a long position in the name over the summer. Tullow announced the

Tullow have secured a 5-year debt facility from Glencore, which will be pari-passu with the “sub-2025 Notes”, and subordinated to the Senior Secured

Press reports that a group of senior secured bondholders are working with Cleary Gottlieb to attempt to stop the Company from doing further buybacks of