Petrofac plans to raise $275 mln partly to pay bribery penalty
Oct 26 (Reuters) - British oil services company Petrofac Ltd said on Tuesday it planned to raise $275 million through issue of new shares to cut debt and pay a Serious Fraud Office fine for bribery offences.
Earlier this month, Petrofac was fined 77 million pounds ($105.89 million) and a former executive received a two-year suspended sentence after both pleaded guilty to bribery in Iraq, Saudi Arabia and the United Arab Emirates. ($1 = 0.7272 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)
