Klaveness Combination Carriers - Capital/Financing Update 2014

Klaveness Ship Holding AS Successful Placement of New Unsecured Bond Issue

Klaveness Ship Holding AS ("Klaveness") has

successfully completed a new unsecured bond issue of

NOK 400 million, with a borrowing limit of NOK 600

million, and a maturity date in March 2020 with a

coupon of NIBOR + 4.25%. An application will be made

for the bonds to be listed on the Nordic ABM.

Net proceeds from the new bond issue will be used for

general corporate purposes.

In connection with the placement of the new bond

issue, Klaveness has repurchased bonds with a total

nominal value of NOK 100 million in the existing bond

issue KSH01 PRO (ISIN: NO 001067598.6) at a price of

103.35.

Danske Bank Markets, DNB Markets and Pareto

Securities acted as joint lead managers in connection

with the placement of the new bond issue.

For further information, please contact:

Lasse Kristoffersen (CEO, Torvald Klaveness), Tel.:

+47 22 52 62 38

Rebekka Glasser Herlofsen (CFO, Torvald Klaveness),

Tel.: +47 22 52 64 41

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