Reference is made to the notification sent 15 May 2013 regarding potential new bond issues by Farstad Shipping ASA.
Farstad Shipping ASA has successfully completed the issuance of a NOK 1 billion five-year senior unsecured bond issue.
The settlement date for the bond issue is expected to be 29 May 2013. An application will be made for listing of the bond on Oslo Stock Exchange.
In conjunction with the new bond issue, Farstad Shipping ASA has repurchased bonds with a nominal value of NOK 182,5 million in the existing bond issue FAR02 PRO maturing in September 2013.
The net proceeds from the bond issue will be used for general corporate purposes including refinancing of existing debt.
DNB Markets, Nordea Markets and Swedbank First Securities acted as Joint Lead Managers for the bond issue.
Contacts for further information:
CEO Karl-Johan Bakken - tel. +47 901 05 697
CFO Torstein Stavseng - tel. +47 911 07 001
Farstad Shipping's fleet currently consists of 58 vessels (29 AHTS, 26 PSV and 3 SUBSEA) and 3 PSV, 3 AHTS and 1 SUBSEA under construction. The company's operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2080 employees engaged onshore and offshore. The company's strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry. The company maintains a long-term charter profile for the fleet.
www.farstad.com (http://www.farstad.com/)
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Farstad Shipping ASA via Thomson Reuters ONE
