April 29 (Reuters) - Petrofac said on Monday that a group of senior secured noteholders made a proposal to provide further credit of up to $300 million to the oilfield services provider to help secure performance guarantees on some existing contracts.

The credit support would require converting a significant proportion of the group's existing debt to equity, Petrofac said. (Reporting by Eva Mathews in Bengaluru; Editing by Savio D'Souza)