Petrofac secures new banking facilities

RNS Number : 6216X

Petrofac Limited

13 August 2018

 

Press Release

13 August 2018

PETROFAC SECURES NEW BANKING FACILITIES

Petrofac Limited ("Petrofac" or "the Company") announces that it has secured US$300 million of new bank facilities with existing relationship banks. These new committed facilities, which will mature in 2020, provide additional liquidity and will reduce utilisation of the Company's existing revolving credit facility.  This financing is in line with the Company's strategy to pre-fund expected liquidity requirements for at least the next 12 months, including maturity of Petrofac's US$677 million 3.40% bond in October 2018.

ENDS

For further information contact:

Petrofac Limited      

[phone]

Jonathan Low, Head of Investor Relations

[e-mail]

Alison Flynn, Group Head of Communications

[e-mail] 

[phone]

Tulchan Communications Group

[phone]

[e-mail]

Martin Robinson

NOTES TO EDITORS

Petrofac

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

Petrofac designs and builds oil and 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 and gas assets.

With around 12,500 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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