Petrofac extends revolving credit facility

RNS Number : 1704P

Petrofac Limited

04 June 2015

 



Press Release

4 June 2015

PETROFAC LIMITED

PETROFAC EXTENDS REVOLVING CREDIT FACILITY

Petrofac is pleased to announce the successful amendment and extension of its syndicated five-year revolving credit facility, effective today. The facility size remains unchanged at US$1.2 billion and the maturity will now run to June 2020, with two one-year extension options subject to approval by the lenders. The facility is available for general corporate purposes.

The lending group remains substantially the same as that which participated in the original 2012 financing. The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Barclays Bank plc acted as Joint Coordinators for the facility.

Tim Weller, Chief Financial Officer, commented:  "We have taken the opportunity to extend the facility given the favourable market conditions, which has resulted in lower margins and commitment fees as well as a number of improvements to the terms and conditions. We are very pleased to extend the agreement with our existing bank group and welcome the new banks into the relationship."

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For further information contact:

Alison Flynn

Head of Media Relations

Petrofac

[e-mail]                                                   [phone]

Petrofac Investor Relations                                                 

Jonathan Low

Jonathan Edwards    

[e-mail]                                                                [phone]

Tulchan Communications Group Ltd

Stephen Malthouse

Martin Robinson

[e-mail]                                                 [phone]

Notes to Editors

Petrofac is a leading international service provider to the oil & gas production and processing industry, with a diverse client portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC). 

Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its clients' needs across the full life cycle of oil & gas assets.

With around 20,000 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.

For additional information, please refer to the Petrofac website at www.petrofac.com. 

 

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