Tullow Oil (TLW) shares ticked up 13.55% to 56.37p after launching a $1.8m bond offer
The independent oil & gas firm has launched a $1.8m bond offer while the company has also been granted commitments for a $600m ‘super senior’ revolving credit facility.
Tullow said its latest funding will be partly used to repay and cancel all outstanding debt under its existing reserves-based lending facility. Currently, Tullow has $300m of bonds with a 6.625% coupon due this July and $650m of senior notes with a 6.25% coupon due in 2022.
The Group told investors that senior notes are due in 2026, while the revolving credit facility matures in 2024. By the end of 2020, Tullow Oil reported a net debt of about $2.4 billion.
ADVFN (AFN) shares soared 66.2% to 59p as former Director ups his stake
Shares in the financial services company soared on Thursday after former Director, Yair Tauman, doubled his stake in the company, raised his investment from 9.44% to 18.31%.
Scirocco Energy (SCIR) shares jumped 63.64% to 1.8p as Helium One makes US debut
Shares in the gas-focused production and development company jumped on Thursday in anticipation of Helium One’s debut on the US OTC market, in which it holds a 4.3% interest.
Helium One told investors that its shares will cross-trade publicly on the US OTCQB Venture Market ("OTCQB"), under the ticker HLOGF with effect from market open in the US today.
In addition, Helium announced a positive drilling update in which it stated that it has now mobilised a drilling rig and equipment from locations in Tanzania and Mozambique to a forward holding yard near Mbeya, approximately 100km from Rukwa Project in Tanzania.
The Character Group (CCT) shares rise 19.7% to 570p as it is set to outperform expectations
In a half-year report for the six months ended 28 February 2021, CCT said it had ‘one of the strongest portfolios that it has ever taken to both domestic and international markets.’
It said its top brands have shown significant sales growth while other major brands, which includes names such as Peppa Pig and Pokémon, are also all out-performing expectations.
Looking ahead, the Company told investors that its strong performance is expected to continue through the second half of the financial year and beyond Christmas 2021.
“This growth is forecast to continue through to and beyond Christmas 2021 and we are on target to deliver the best performance in any calendar year in the Group's history.
Accordingly, we expect the 2021 full financial year's underlying profit before tax will be materially ahead of the published market consensus of £10.5m,” the Company noted.
WH Smith (SMWH) shares fell 4.51% to 1,798.5p after the group posted a first half loss
Shares in the retailer dipped today after it announced on Wednesday that it had swung to a loss of £17m in the six months to February, down from a £80m profit in the prior year.
The firm expects to return to pre-pandemic revenue levels ‘in the next two to three years.’
The Group has also launched a £325m bond offering which it said will help it fund ‘new and existing opportunities’ such as opening new travel stores, in particular in North America.
It said the offering will position it in ‘a strong financial position to capitalise on the significant opportunities that are expected to emerge in the travel retail market post-Covid.’