REG-Petrofac Limited PETROFAC EXTENDS FORBEARANCE AGREEMENT

PetrofacAnnouncement

18/11/2024 07:15

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   Petrofac Limited ( PFC)
   PETROFAC EXTENDS FORBEARANCE AGREEMENT

   18-Nov-2024 / 07:00 GMT/BST

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                                 Press Release

    

    

    

   18 NOVEMBER 2024

    

                                        

                     PETROFAC EXTENDS FORBEARANCE AGREEMENT

    

   The  Group  announces  that  it  has  extended  its  existing  forbearance
   agreement, in respect  of the non-payment  of the interest  coupon on  its
   senior secured notes that was due on  15 May 2024, from 15 November to  13
   December 2024. This forbearance agreement also extends to the  non-payment
   of the interest coupon that was due on 15 November 2024.

    

   The  forbearance  agreement  is  entered  into  by  an  ad  hoc  group  of
   noteholders representing  approximately  47%  of  the  outstanding  senior
   secured notes and certain other acceding noteholders.

    

   The attention  of investors  is  drawn to  the Company’s  previous  market
   announcements  for   additional  information   surrounding  the   proposed
   financial restructure which the Board and management continues to progress
   at pace. Further information will be shared as appropriate.

    

   ENDS

    

    

   For further information contact:

    

   Petrofac:

   James Boothroyd, Head of Investor Relations

    1 James.boothroyd@petrofac.com

    

   Sophie Reid, Group Director of Communications and Culture

    2 Sophie.reid@petrofac.com

    

   Teneo (for Petrofac):

   +44 (0) 207 353 4200

    3 petrofac@teneo.com

    

    

   NOTES TO EDITORS

    

   Petrofac

    

   Petrofac is  a  leading  international  service  provider  to  the  energy
   industry, with a diverse  client portfolio including  many of the  world’s
   leading energy companies.

    

   Petrofac designs,  builds,  manages  and  maintains  oil,  gas,  refining,
   petrochemicals and  renewable energy  infrastructure.  Our purpose  is  to
   enable our clients  to meet the  world’s evolving energy  needs. Our  four
   values -  driven,  agile,  respectful and  open  -  are at  the  heart  of
   everything we do.

    

   Petrofac’s core markets  are in the  Middle East and  North Africa  (MENA)
   region and the UK  North Sea, where  we have built  a long and  successful
   track record of safe, reliable and innovative execution, underpinned by  a
   cost effective and local delivery model with a strong focus on  in-country
   value. We operate in several  other significant markets, including  India,
   South East  Asia and  the United  States. We  have 8,500  employees  based
   across 31 offices globally.

    

   Petrofac is quoted on the London Stock Exchange (symbol: PFC).

    

   For additional  information,  please  refer to  the  Petrofac  website  at
    4 www.petrofac.com

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B0H2K534
   Category Code:  MSCH
   TIDM:           PFC
   LEI Code:       2138004624W8CKCSJ177
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   359535
   EQS News ID:    2031609


    
   End of Announcement EQS News Service

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    5 fncls.ssp?fn=show_t_gif&application_id=2031609&application_name=news&site_id=refinitiv~~~456f380e-074c-434c-ab61-d8ca972fa0de

References

   Visible links
   1. mailto:James.boothroyd@petrofac.com
   2. mailto:Sophie.reid@petrofac.com
   3. mailto:petrofac@teneo.com
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=9fe21fdf68d48cc06116e9fe9587a1c8&application_id=2031609&site_id=refinitiv~~~456f380e-074c-434c-ab61-d8ca972fa0de&application_name=news


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