There is a chance that Petrofac may swap a significant proportion of debt for equity

Petrofac is in talks with lenders and investors on ways to restructure its debt and receive further investment. Petrofac may swap a'significant proportion' of debt for equity. Lenders and investors may also discuss disposal of non-core assets, Petrofac said in a statement.

UK GDP grew by 0.1 per cent in February, according to the ONS. Petrofac is among the companies with reports and trading updates today. The company is in debt restructuring talks with debt-restructructructuring firm Petrofac. The UK economy grew by just 0.2 per cent last month, the latest figures show.