MPC Container Ships ASA

MPCC Secures USD 100m in New Undrawn Revolving Credit Facility

MPC Container Ships ASA (MPCC) has entered into a new USD 100 million four-year

revolving credit facility agreement with Hamburg Commercial Bank (HCOB) at

attractive terms. The facility remains undrawn and replaces former CIT and HCOB

revolving credit facilities with a total commitment of USD 75 million and

maturities in 2024 and 2026, respectively, which were fully repaid and cancelled

in the fourth quarter of 2023. After the debt repayment and entering into the

new loan agreement, MPCC has no debt maturities until 2027.

The new revolving credit facility is secured by 14 vessels, thus releasing

substantial collateral of 9 vessels previously included in the former financing

facilities, resulting in 38 debt free vessels in the fleet. The debt repayment

and new facility thus further strengthens MPCC's balance sheet while preserving

its low leverage and adding substantial flexibility for future opportunities.

"As we embark on the new year, the new financing facility strengthens our

liquidity and expands our capacity to pursue selective, value-enhancing

opportunities in alignment with our strategy, promoting long-term shareholder

value creation," said Moritz Fuhrmann, CFO of MPCC. "Adhering to our principles

of clear and rational capital allocation, the recent debt repayments and the new

loan facility will reduce financing costs, free up collateral, and improve our

maturity profile. This enhances our financial flexibility ahead of the new year

and unlocks additional value for our shareholders. We would like to express our

gratitude to HCOB for their support throughout the process and for their

continued cooperation."

The above information is subject to the disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act.

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