|Long Term Credit Lines and Interest Bearing Debt||Nominal Amount as of September 30, 2016||Total Credit Line||Financial Covenants|
|USD 400.0 million Term Loan ("TLB"), Libor (minimum 0.75%) + 250 basis points, due 2021||USD 390.0 million||None, but incurrence test: total leverage ratio ≤ 3.00x*|
|Revolving credit facility ("RCF"), due 2018
40% of applicable margin in commitment fee on undrawn amount
Libor + margin of 200-325 bps + utilization fee
|USD 160.0 million||USD 500.0 million||Maintenance covenant: total leverage ratio ≤ 5.50x, to Q1-17, 5.00x Q2-17, 4.50x Q3-17, 3.25x Q4-17, thereafter reduced by 0.25x each quarter to 2.75x by Q2-18|
|Japanese ECF, 12 year with semi-annual installments. 50% fixed/ 50% floating interest rate||USD 386.1 million||USD 477.3 million||None, but incurrence test for loan 3&4: Total leverage ratio ≤ 3.00x* and Interest coverage ratio ≥ 2.0x*|
|December 2018 Senior Notes, coupon of 7.375% and callable from 2015||USD 450.0 million||None, but incurrence test: Interest coverage ratio
*Carve out for drawings under ECF and RCF.
PGS has official ratings from Moody’s Investor Services (Moody’s) and Standard & Poor’s Rating Services (S&P).
|Rating agency||Date of rating||Rating||Outlook|
|Moody’s||March 14, 2016||Caa1||Negative|
|S&P||February 26, 2016||CCC+||Negative|