MPC Container Ships ASA - Capital/Financing Update 2021

MPC Container Ships ASA refinances term loans with USD 70 million revolving credit facility

Oslo, 29 July 2021 - MPC Container Ships ASA (the "Company", together with its

subsidiaries the "Group") is pleased to announce that it has entered into a USD

70 million three-year revolving credit facility agreement with CIT Group at

attractive terms. An initial drawdown of USD 40 million has been used to

refinance existing debt. As a consequence, the previous term loans with Beal

Bank and CIT have been repaid in full. Further drawdowns under the facility will

strengthen the free liquidity and may be used for vessel upgrades, investments

or general corporate purposes.

CEO Constantin Baack comments in relation to the announcement: "Having secured

significant charter backlog, we are pleased to add a flexible instrument to our

capital structure, whilst adhering to our strategy of moderate leverage. By

securing the facility we are able to reduce our financing costs and extend the

maturity. The agreed structure frees up collateral and enhances financial

flexibility going forward. We appreciate the excellent cooperation and support

by CIT's Maritime Finance team over the past years and its expertise and agility

in arranging this financing."

The above information is subject to the disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act.

Further information and contact:

About MPC Container Ships ASA:

MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main

activity is to own and operate a portfolio of container ships serving intra

-regional trade lanes. The Company is registered and has its business office in

Oslo, Norway. For more information, please see our website: www.mpc

-container.com.

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