Beerenberg

Capital/Financing Update • Oct 30, 2020

Beerenberg AS - Successful placement of new senior secured bonds

Beerenberg AS - Successful placement of new senior secured bonds

Reference is made to the stock exchange notice sent 19 October 2020. Beerenberg AS has today completed a new senior secured bond issue of NOK 750 million, with a coupon of 3m NIBOR + 8.0% and with an expected maturity date at 13 November 2023. An application will be made for the bonds to be listed on Oslo Børs.

Net proceeds from the bond issue together with cash at hand, will be used to redeem the outstanding BBERG02 (NO0010786296) bonds at the current call price of 100.0% of par value plus accrued interest. A call notice will be sent to the bond trustee shortly.

For further information, please contact:

Harald Haldorsen, CFO, +47 98234834