Gram Car Carriers ASA

Gram Car Carriers ASA repays lease debt for Viking Adventure

Oslo, 25 January 2024: Gram Car Carriers ASA ("GCC"), the world's third-largest

car carrier tonnage provider, has repaid the lease debt for the Viking Adventure

(6,700 CEU, 2015) to optimise the Company's capital structure.

GCC paid USD 30.5 million, using available liquidity, for the vessel which has

been financed with leasing debt. The Company is in the process of establishing

new competitively priced debt financing compared to the lease margin of SOFR +

4.26%.

"We continuously seek to 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.

AI Terminal