London-listed Petrofac gains as noteholders agree on contract extension

Petrofac

01/07/2024 08:23

** Shares in Petrofac  PFC.L  up 7.7% at 14p, top pct gainer
on FTSE smallcaps  .FTSC  index 
    ** The oilfield services firm agrees extension of existing
agreement for non-payment of interest coupon on its senior
secured notes 
    ** Contract with ad hoc group of note holder to extend
period to July 25
    ** Extension to provide time for group’s financial
restructuring, materially strengthen balance sheet, improve
liquidity
    ** Stock down ~62% so far this year  

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))