Pacific Drilling looks to have secured breathing space in its bid to restructure its debt burden after securing amendments for two credit facilities.
It said it has reached agreement with its banking group to make certain amendments to its $500m revolving credit facility (RCF) and $1bn senior secured credit facility (SSCF).
The Idan Ofer-led company said the amendments waive the leverage ratio covenant for the fiscal quarters ending 31 March and 30 June 2017.
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