DJ Petrofac Limited: PETROFAC EXTENDS FORBEARANCE AGREEMENT
Petrofac Limited ( PFC) Petrofac Limited: PETROFAC EXTENDS FORBEARANCE AGREEMENT 23-Sep-2024 / 07:00 GMT/BST =---------------------------------------------------------------------------------------------------------------------- 23 September 2024 PETROFAC EXTENDS FORBEARANCE AGREEMENT Petrofac Limited is holding its Annual General Meeting today. Alongside this event, the Company provides the following update. Extension of forbearance agreement The Group confirms that it has extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 20 September to 18 October 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. It provides assurance that these noteholders will not take action in respect of the non-payment of the coupon until at least 18 October 2024, allowing additional time for the Group's financial restructuring to be progressed. Further announcements will be made as appropriate. ENDS For further information contact: Petrofac: James Boothroyd, Head of Investor Relations James.boothroyd@petrofac.com Sophie Reid, Group Director of Communications and Culture Sophie.reid@petrofac.com Teneo (for Petrofac): +44 (0) 207 353 4200 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 www.petrofac.com =---------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- 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.: 348266 EQS News ID: 1992837 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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September 23, 2024 02:00 ET (06:00 GMT)
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