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Loan deal for Tullow

EXPLORATION and production group Tullow Oil has extended its $3.5bn (€2.74bn) debt facility by four years to 2019.

The Irish group had an existing agreement with its bankers allowing it to borrow up to $3.5bn which was due to expire in 2015. It has not drawn down this amount and its net debt is currently $695m (€545m).


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