Capital/Financing Update • May 23, 2023
Capital/Financing Update
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Awilco Drilling PLC: Short-term Financing
Awilco Drilling PLC (the «Company») announces that it has signed a short-term
shareholder loan with Awilhelmsen Offshore AS as a bridge while alternatives for
the Company's longer term financing need is being explored. The loan is for a
total of up to USD 4 million, structured as a draw-down facility, with interest
rate of 10 percent per annum on the aggregated outstanding principal amount. In
addition, there is an arrangement fee of 2 percent on the total amount. Maturity
date for the loan is 30 June 2023. The loan shall be used for general working
capital purposes.
Aberdeen, 23 May 2023
For further information please contact:
Eric Jacobs, Interim CEO
Phone: +44 1224 737900
Cathrine Haavind, Investor Relations
Phone: +47 93 42 84 64
Email: [email protected] (mailto:[email protected])
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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