Gram Car Carriers ASA

Gram Car Carriers ASA refinances Viking Bravery lease with an attractively priced term loan

Oslo, 4 December 2023: Gram Car Carriers ASA ("GCC"), the world's third-largest

car carrier tonnage provider, has signed an agreement to refinance the leasing

debt for the Viking Bravery (6,700 CEU, 2015) with a new USD 35 million term

loan priced at SOFR +1.65%.

The new term loan is provided by DekaBank Deutsche Girozentrale and has a

maturity that matches the duration of the vessel's current timecharter contract.

The loan will be used to repurchase the Viking Bravery which has since January

2022 been financed with lease debt priced at SOFR +4.26%.

"We have successfully rechartered our fleet on long-term contracts in a strong

car shipping market, building a record revenue backlog and long-term cash flow

visibility. The Viking Bravery refinancing demonstrates that our robust

financial position and credit quality is appreciated by leading credit

institutions. We are also very pleased to expand our bank group to include

DekaBank," said Georg A. Whist, the CEO of GCC.

For further information, please contact:

CFO Gunnar S. Koløen

Head of Projects and IR Mas Gram

About Gram Car Carriers:

GCC is the world's third-largest tonnage provider within the Pure Car Truck

Carriers (PCTCs) segment with 19 owned vessels, across the Distribution, Mid

-size and Panamax segments. The Company serves as a trusted provider of high

-quality vessels and logistics solutions ensuring safe, efficient and punctual

shipment of vehicles for a network of clients comprising of major global and

regional PCTC operators. To lean more, please visit gramcar.com.

This information is subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act.

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