PETROFAC EXTENDS FORBEARANCE AGREEMENTThe Group announces that it has extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 18 October to 15 November 2024. The forbearance agreement is entered into by an ad hoc group of noteholders representing approximately 47% of the outstanding senior secured notes and certain other acceding noteholders. The Company aims to announce a lock-up agreement with final terms in the coming weeks. The attention of investors is drawn to the Company’s previous market announcements for additional information surrounding the proposed financial restructure. Our purpose is to enable our clients to meet the world's evolving energy needs.

Source: The North Africa Journal October 21, 2024 06:15 UTC