UK's Petrofac gets $300 mln credit support proposal

Petrofac

29/04/2024 07:38

April 29 (Reuters) - Petrofac  PFC.L  said on Monday
that a group of senior secured noteholders made a proposal to
provide further credit of up to $300 million to the oilfield
services provider to help secure performance guarantees on some
existing contracts.
    The credit support would require converting a significant
proportion of the group's existing debt to equity, Petrofac
said.

 (Reporting by Eva Mathews in Bengaluru; Editing by Savio
D'Souza)
 ((Eva.Mathews@thomsonreuters.com;))