13th Aug 2018 11:35
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
+44 (0) 207 811 4900
Jonathan Low, Head of Investor Relations
Alison Flynn, Group Head of Communications
+44 (0) 207 811 4913
Tulchan Communications Group
+44 (0) 207 353 4200
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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