London-listed Petrofac rises after extending debt payment deadline

Petrofac

23/08/2024 08:36

** Shares of oilfield services provider Petrofac  PFC.L  up
3.9% at 16.38p
    ** Stock among top gainers on the FTSE small cap index
 .FTSC  which is up 0.16%
    ** Co extends forbearance agreement regarding the missed
interest payment on its $600 mln senior secured notes
    ** The extension moves the deadline from Aug. 23 to Sept.
20, 2024
    ** The agreement, involving approximately 47% of PFC's
bondholders, grants co additional time to advance its financial
restructuring efforts
    ** As of last close, PFC is down 57.8% YTD while FTSC is up
8.03%

    

 (Reporting by DhanushVignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com;))