Debt-Laden Tullow Holds Refinancing Talks With Bondholders

Tullow Oil Plc is in talks with its bondholders about refinancing a nearly $1.3 billion bond due next year, as the imminent maturity adds to pressure on the Africa-focused oil explorer.

Discussions have focused on both the London-listed firm’s struggling performance and its refinancing options, according to people familiar with the situation who asked not to be named discussing a private matter.

Some of the company’s bondholders have begun working with the law firm Weil, Gotshal & Manges LLP ahead of more formal discussions and potential amendments to the debt, some of the people said.

Corporates would typically look to ...