on Petrofac Limited (isin : GB00B0H2K534)
Petrofac Limited Files for Administration Amid Restructuring
On October 27, 2025, Petrofac Limited announced its decision to apply for administration with the High Court of England and Wales. The administration applies solely to the Group's ultimate holding company, following TenneT’s termination of Petrofac's work on a 2GW program in the Netherlands.
The company's operations will continue while seeking alternative restructuring and M&A solutions. Key creditors, including the Ad Hoc Group of Noteholders, are supporting the Group with forbearance arrangements. Additionally, RCF and Term Loan lenders are extending maturities.
Administrators will collaborate with Executive Management to maintain operational value and capability. Further updates are anticipated as the situation develops.
R. H.
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