Klaveness Combination Carriers — Capital/Financing Update 2016

Nov 22, 2016

Klaveness Ship Holding AS - successful placement of new senior unsecured bond issue

Klaveness Ship Holding AS - successful placement of new senior unsecured bond issue

Klaveness Ship Holding AS ("Klaveness") has

successfully completed a new senior unsecured bond

issue of NOK 300 million, with a borrowing limit of

NOK 500 million, and a maturity date in May 2021 with

a coupon rate of 3 month NIBOR + 5.25%. 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 and refinancing of

Klaveness' existing bond issues KSH01 PRO and KSH02

PRO.

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