Klaveness Completes New Unsecured Bond Issue

Klaveness Ship Holding AS (Klaveness) has completed a new unsecured bond issue of NOK 400 million (USD 66.9 million), with a borrowing limit of NOK 600 million (USD 100.4 million), and a maturity date in March 2020 with a coupon of NIBOR + 4.25%. An application will be made for the bonds to be listed on the Nordic ABM.

Net proceeds from the new bond issue will be used for general corporate purposes.

In connection with the placement of the new bond issue, Klaveness has repurchased bonds with a total nominal value of NOK 100 million (USD 16.7 million) in the existing bond issue KSH01 PRO (ISIN: NO 001067598.6) at a price of 103.35.

Danske Bank Markets, DNB Markets and Pareto Securities acted as joint lead managers in connection with the placement of the new bond issue.

Klaveness, March 18, 2014

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