Ashurst advised the syndicate of lenders, jointly coordinated by The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Barclays Bank plc, on the amendment and extension of a US$1.2bn syndicated revolving credit facility for Petrofac, a FTSE-250 listed leading provider of oilfield services to the international oil and gas industry.

The facility, which now matures in June 2020, includes two one-year extension options (subject to lender approval) and is available for the Petrofac group's general corporate purposes.

The Ashurst banking team comprised lawyers from the firm's London and Dubai offices. The London-based team was led by partner Nicholas Moore, assisted by associates David Collins and Darren Phelan. The Dubai team was led by partner David Charlier, assisted by counsel Shri Maski and associate Brad Sandford.