Moreld AS — Capital/Financing Update 2025

Jan 24, 2025

Moreld AS: Successful placement of senior secured bond

Moreld AS: Successful placement of senior secured bond

Stavanger, 24 January 2025:

Moreld AS ("Moreld" or the "Company") has today successfully placed a USD 130 million senior secured bond with a 5-year tenor. The bonds will pay a semi-annual coupon of 9.875% per annum.

The settlement date is expected to be 11 February 2025, and an application will be made for the bond to be listed on the Oslo Stock Exchange. The net proceeds from the bond issue will be used to refinance the remainder of the USD 225 million senior secured notes due 2029 in full and thereafter for general corporate purposes.

Pareto Securities AS acted as Sole Global Coordinator and Bookrunner and SpareBank 1 Markets AS acted as Co-Manager in the bond issue.

Wikborg Rein Advokatfirma AS acted as legal counsel to Moreld. Arntzen de Besche Advokatfirma AS acted as legal counsel to the managers.

For more information, please contact:

CEO Geir Austigard

Telephone: +47 992 47 500

Email: Geir.austigard@moreld.com

CFO Trond Rosnes

Telephone: +47 404 14 494

Email: Trond.rosnes@moreld.com

About Moreld

Moreld is an industrial multi-disciplinary engineering group offering full-scope services across the offshore energy and marine industries including subsea installations. The group comprises Moreld Apply, Ocean Installer and Global Maritime. Moreld is a major player on the Norwegian continental shelf with an international footprint. The Group is located in 19 countries, giving access to all major offshore markets, and has over 2,800 employees and contractors. For more information, please visit https://moreld.com/.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act