Dolphin Drilling AS — Capital/Financing Update 2014

Jun 26, 2014

Refinancing of credit facility

Refinancing of credit facility

Fred. Olsen Energy ASA has signed a new six year bank credit facility of

up to USD 2.000 million. The credit facility will be used to repay

existing bank loan, full-finance the newbuild Bollsta Dolphin and for

general corporate purposes. The facility is provided by a group of

international banks and GIEK/Eksportkreditt; with Nordea, ING, ABN Amro,

Danske Bank, DNB, Handelsbanken, SEB and Swedbank as Mandated Lead

Arrangers.