Petrofac reviews strategic and financial options to strengthen balance sheet, enhance liquidity, and secure bank guarantees.
Petrofac is reviewing strategic and financial options to strengthen its balance sheet, enhance liquidity, and secure bank guarantees, involving active discussions with stakeholders and exploring non-core asset sales. The company has made progress in securing performance guarantees for contracts, with a backlog of over $8B. The review aims to ensure appropriate capital structure and liquidity for future growth, with updates expected in Apr.
March 05, 2024
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