Tullow Oil Tumbles After Announcing $300 Million Bond Sale

  • Shares drop the most since financial crisis in October 2008
  • Convertible bonds often prompt share seloff, says RBC

The Tullow Oil Plc floating production storage and offloading vessel sits docked at the Sembcorp Marine Tuas shipyard in Singapore.

Photographer: Nicky Loh/Bloomberg

Tullow Oil Plc tumbled the most since the global financial crisis almost eight years ago after announcing a $300 million sale of convertible bonds.

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