on Petrofac Limited (isin : GB00B0H2K534)
Petrofac Extends Forbearance Agreement
Petrofac Limited has announced an extension of its existing forbearance agreement regarding the non-payment of interest on its senior secured notes. Originally set to expire on 23 August 2024, the agreement will now be in place until 20 September 2024. This gives Petrofac additional time to progress its financial restructuring.
The agreement involves an ad hoc group of noteholders representing around 47% of the outstanding senior secured notes, along with other acceding noteholders. These stakeholders have agreed not to take action concerning the non-payment issue during the extended period. Further updates from Petrofac are expected.
R. P.
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