on Petrofac Limited (isin : GB00B0H2K534)
Petrofac Extends Forbearance Agreement on Debt Coupons
Petrofac Limited has announced the extension of its existing forbearance agreement regarding the non-payment of interest coupons on its senior secured notes. Initially due on 15 May 2024, the payment deadline has now been extended from 15 November to 13 December 2024. This extension also applies to the interest coupon due on 15 November 2024.
The forbearance agreement involves an ad hoc group of noteholders, representing approximately 47% of the outstanding senior secured notes, along with certain other acceding noteholders. Investors are advised to refer to previous market announcements for more details on the company's financial restructuring efforts, which continue to advance.
R. E.
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