Awilco LNG

Capital/Financing Update • Oct 18, 2019

ALNG – Refinancing Secured

ALNG – Refinancing Secured

With reference to press release 5/2019 and stock exchange announcement 2 August 2019, Awilco LNG ASA (the Company) is pleased to announce that the term sheet for the refinancing of the Company’s two 2013-built 156,000 cbm TFDE LNG carriers WilForce and WilPride has today been credit approved.

The sale/leaseback facility is provided by CCB Financial Leasing Co. Ltd. (CCBFL), a wholly owned subsidiary of China Construction Bank (CCB), and is expected to enable a full take out of the Company’s current sale/leaseback facilities at favorable terms. The facility bears a 14-year straight line amortisation profile, a tenor of 10 years and carries a floating interest rate structure.

The facility is expected to close in Q4 2019 subject to final documentation and customary closing conditions.

Jon Skule Storheill, CEO of Awilco LNG ASA, stated: "We are pleased to mark the start of our long-term relationship with CCBFL, a leading leasing house in China and part of one of the largest banks in the world, and believe the terms are attractive and supportive of the Company’s commercial strategy."

For further information please contact:

Jon Skule Storheill

Chief Executive Officer

Telephone: (47) 22 01 42 09

Mobile: (47) 91 34 43 56

Øyvind Ryssdal

Chief Financial Officer

Telephone: (47) 22 01 42 81

Mobile: (47) 920 14 029