Gram Car Carriers ASA

Gram Car Carriers ASA refinances Viking Adventure at SOFR +1.73%

Oslo, 8 March 2024: Gram Car Carriers ASA ("GCC"), the world's third-largest car

carrier tonnage provider, has refinanced the Viking Adventure (6,700 CEU, 2015)

with a leading Japanese bank at competitive terms.

The new USD 41 million loan has a duration matching the vessels current charter

ending in mid-2028 and a margin of SOFR +1.73%. This compares a margin of SOFR

+4.26% under the previous lease financing which was repaid earlier this year.

"We are pleased to welcome one of the premier banks in Japan in our banking

group as we optimise our capital structure and cost base to maximise profit and

shareholder returns. Lower cost of debt, combined with a near record revenue

backlog built in a historically strong car shipping market, support long-term

cash flow visibility and continued attractive dividend distributions," 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 18 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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