Technip Lifts 2015 Revenue Forecasts, Issues Bonds

Reuters

PARIS, Jan 20 (Reuters) – French oil services company Technip's 2015 revenue at its subsea and onshore/offshore businesses would beat the forecasts it gave when it published third-quarter results on Oct. 29, it said on Wednesday.

The company had said at the time adjusted subsea revenue for 2015 was expected to be over 5.5 billion euros ($6.03 billion), while adjusted onshore/offshore revenue would be over 6 billion. This was an increase from earlier forecasts.

"Technip anticipates that the adjusted underlying OIFRA (adjusted operating income from recurring activities) for full-year 2015 in both its reporting segments will be in line and revenues in both segments higher as compared to the expectations set out with the group's third-quarter 2015 results," Technip said on Wednesday.

Technip also said it was launching a five-year bond to raise about 375 million euros partly to help finance the purchase of call options. ($1 = 0.9128 euros)

(Reporting by James Regan; editing by Susan Thomas)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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