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.