LONDON (dpa-AFX) - Petrofac Limited (POFCF.PK), an energy services company, Monday said it has extended the existing forbearance agreement with its noteholders regarding non-payment of interest on senior secured notes from June 30 to July 25, 2024.
'The forbearance agreement provides an assurance that relevant noteholders will not take any action in respect of the non-payment of the coupon until at least 25 July 2024, in order to provide further time for the Group's financial restructuring to be progressed,' the company said in a release.
The agreement is entered into by a group of noteholders representing about 47 percent of the outstanding notes, increased from 41 percent at the time of the publication of Petrofac's annual results.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
