Petrofac Ltd. (PFC)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE Small Cap

10.55p
   
  • Change Today:
    -0.27p
  • 52 Week High: 40.00
  • 52 Week Low: 10.42
  • Currency: UK Pounds
  • Shares Issued: 522.05m
  • Volume: 1,950,615
  • Market Cap: £55.08m
  • RiskGrade: 428
  • Beta: 1.65

Petrofac again extends deadline for missed interest payments

By Benjamin Chiou

Date: Monday 23 Sep 2024

LONDON (ShareCast) - (Sharecast News) - Shares in Petrofac rose on Monday after the energy infrastructure services group secured yet more additional time with its bondholders to make its interest payment obligations.
Petrofac said it had extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 20 September to 18 October.

The company which had a net debt position of $583m at the end of 2023, has already extended the forbearance agreement a number of times over the summer. At the time of its full-year results in May, the company said it was continuing to rely on deferrals of contractual amortisation payments from its lending banks to stay afloat.

"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," Petrofac said in a statement.

The extension means that bondholders have agreed not to take action in respect of the non-payment until at least mid-October, allowing the company with additional time to progress with its financial restructuring.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Petrofac Market Data

Currency UK Pounds
Share Price 10.55p
Change Today -0.27p
% Change -2.50 %
52 Week High 40.00
52 Week Low 10.42
Volume 1,950,615
Shares Issued 522.05m
Market Cap £55.08m
Beta 1.65
RiskGrade 428

Petrofac Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.51% above the market average6.51% above the market average6.51% above the market average6.51% above the market average6.51% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Price Trend
55.9% below the market average55.9% below the market average55.9% below the market average55.9% below the market average55.9% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Income
36.94% above the market average36.94% above the market average36.94% above the market average36.94% above the market average36.94% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
72.49% below the market average72.49% below the market average72.49% below the market average72.49% below the market average72.49% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 5
Sell 0
Strong Sell 1
Total 7
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Petrofac Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 25-Apr-19
Paid 18-Oct-19 24-May-19
Amount 12.70¢ 25.30¢

Trades for 21-Nov-2024

Time Volume / Share Price
15:54 8 @ 10.55p
15:25 107 @ 10.70p
16:37 23,081 @ 10.55p
16:29 19,574 @ 10.70p
16:29 11,999 @ 10.70p

Top of Page