for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Healthcare

BRIEF-Worley Gets Approval To Extend About $480 Mln Of Working Capital Facilities

March 30 (Reuters) - Worley Ltd:

* REFINANCED A SIGNIFICANT PORTION OF WORKING CAPITAL FACILITIES EXPIRING IN FY2020

* RECEIVED BANK CREDIT APPROVAL TO EXTEND ABOUT $480 MILLION OF WORKING CAPITAL FACILITIES FOR 12 MONTHS

* WHILE IMPACTS OF COVID-19 PANDEMIC & OIL PRICE DECLINE ARE STILL EVOLVING, MANAGEMENT IS ACTIVELY TAKING MEASURES TO ALIGN COST BASE

* REVIEWING COST STRUCTURES, INCLUDING A REVIEW OF PROPERTY PORTFOLIO

* TOTAL LIQUIDITY OF $1.36 BILLION AS AT DEC. 31, 2019 & NO MATERIAL CHANGE TO LIQUIDITY POSITION AS AT 29 FEB

* MOBILIZED AN INTERNAL COVID-19 PANDEMIC TASKFORCE TO ACTIVELY IDENTIFY, ASSESS AND RESPOND TO CHALLENGES

* FREEZING RECRUITMENT UNLESS WORKING ON PROJECTS AND WHERE RESOURCES CANNOT BE OBTAINED FROM WITHIN WORLEY Source text for Eikon: Further company coverage:

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up