PGS pulls refi citing ‘weaker investor sentiment’

Centrica 230x150 Morcambe Bay Offshore
By Owen Sanderson
20 Jun 2019

Norwegian oilfield services firm Petroleum Geo Services has pulled its planned refinancing, citing "increased volatility in the capital markets" and "weaker investor sentiment towards oil field service".

The company announced in late May that it planned to refinance its capital structure, paying back a $212m 2020 bond, its $380m 2021 term loan B, and part of its drawn revolver.

Barclays was arranging the package, which included a $525m first lien loan and $250m revolver, ...

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