Tullow Oil plans roadshow on Friday for $500 million seven-year notes

By Paul A. Harris

Portland, Ore., Oct. 24 - Tullow Oil plc plans to start a roadshow in London on Friday for its $500 million offering of seven-year senior notes (expected B1//), according to a market source.

A roadshow is set to get under way in the United States during the week ahead.

JPMorgan and Deutsche Bank are the global coordinators. BNP Paribas, BofA Merrill Lynch, Barclays, Credit Agricole CIB and Standard Chartered are the joint bookrunners.

The Rule 144A for life notes come with three years of call protection.

The London-based oil and gas exploration company plans to use the proceeds to pay down its revolver.

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