Borregaard - Capital/Financing Update 2016

Borregaard: Borregaard ASA bond buy-back

Borregaard ASA (the "Company") refers to the Company's announcement on 25

October 2016 regarding a contemplated buy-back of up to NOK 200 million nominal

amount of the bond issue BRG01 (ISIN: NO0010704117). Outstanding nominal value

before the buy-back of bonds is NOK 400 million, and the bond issue matures on

26 February 2019.

The "reverse Dutch auction" closed at 16:00 CET 26 October 2016. The Company has

decided to accept all offers up to and including a price of 101.1 % of par value

(the "Buy-Back Price"). Bondholders that offered a lower price than the Buy-Back

Price have received full volume allocation, while bondholders who offered their

bond holdings at the Buy-Back Price have received a scale back in their offered

volumes. The Company hereby confirms to buy back a nominal amount of NOK 200

million in BRG01 at the Buy-Back Price plus accrued interest on the settlement

date, 31 October 2016.

Post settlement, the Company holds NOK 200 million nominal of the total NOK 400

million nominal outstanding amount in BRG01.

DNB Markets and SEB acted as Managers for the buy-back offer.

For further information, please contact:

Per Bjarne Lyngstad, CFO,

Tel: +47 95 24 45 15

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

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