Petrofac secures new banking facilities

Petrofac announces that it has secured US$300 million of new bank facilities with existing relationship banks. These new committed facilities, which will mature in 2020, provide additional liquidity and will reduce utilisation of the Company’s existing revolving credit facility.  This financing is in line with the Company’s strategy to pre-fund expected liquidity requirements for at least the next 12 months, including maturity of Petrofac’s US$677 million 3.40% bond in October 2018.