Petrofac, Bondholders Pick Advisers as Firm Seeks to Raise Cash

Petrofac Ltd. and its bondholders have picked advisers after the oil-services provider said it was considering a sale of assets to raise cash ahead of looming loan maturities.

A group of holders of Petrofac’s $600 million notes due in 2026 is working with Houlihan Lokey Inc., according to people with knowledge of the matter. Petrofac is being advised by Moelis & Co., said the people, who asked not to be identified because they’re not authorized to speak about the matter.

Spokespeople for Petrofac and Moelis & Co. declined to comment. Bloomberg has reached out to Houlihan for comment.

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