Petrofac extends forbearance agreement for unpaid interest until November 15, 2024, with support from bondholders.
Petrofac Limited has extended its forbearance agreement regarding unpaid interest on senior secured notes until November 15, 2024, with support from an ad hoc group of bondholders. This extension aims to provide the company additional time to navigate its financial difficulties and comply with debt obligations. Petrofac is working towards a financial restructuring plan and does not anticipate repaying its revolving credit facility or term loans by their maturity date on October 25, 2024.
October 21, 2024
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