Petrofac extends forbearance agreement

Petrofac confirms it has extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 23 August to 20 September 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 any action in respect of the non-payment of the coupon until at least 20 September 2024, allowing additional time for the Group’s financial restructuring to be progressed.

Further announcements will be made as appropriate.