Petrofac plans private sale of notes in five-, 10-year maturities

By Andrea Heisinger

New York, June 3 - Petrofac Ltd. announced a private sale of notes (Baa1/BBB+/) in two maturities, a market source said on Monday.

The offering includes maturities of 2018 and 2023, the source said.

Barclays and J.P. Morgan Securities LLC are the bookrunners.

The sale is being done under Rule 144A and Regulation S.

The proceeds will be used for general corporate purposes and to reduce the amount currently outstanding under a revolving credit facility.

The oilfield services company is based on London.

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