Solstad Offshore ASA - Capital/Financing Update 2015

BOA OFFSHORE AS - SUCCESSFUL PLACEMENT OF NEW SUBORDINATED BOND

Reference is made to the notification sent earlier

regarding Boa Offshore AS contemplating to issue a

new subordinated bond in the Norwegian bond market.

Boa Offshore AS has successfully completed a new

subordinated bond issue of NOK 150 million with

maturity date in December 2018. The bond issue has a

coupon of 3 months NIBOR plus 10.0 per cent.

Settlement date is expected to be 17 July 2015.

An application will be made for the bonds to be

listed on Nordic ABM.

SpareBank 1 Markets has acted as sole manager and

bookrunner for the bond issue.

For further information, please contact:

Boa Offshore AS, Albert Strand, Director Finance and

Risk, Tel: +47 73 99 09 45 / +47 90 74 44 61

SpareBank 1 Markets: Christoffer Hæhre, Tel: +47 24

13 37 52 / +47 95 93 15 85

Boa Offshore is a Norwegian-based global offshore

supply vessel owner and operator with a well-

diversified fleet of 42 units focused on subsea,

barges, thugs, seismic/AHTS, engineering and project

management. The fleet is modern with an average age

of 6 years. The company has the most sophisticated

semi-submersible barge fleet in the world and holds

the global market-leading position for heavy lift

barges. The Boa group is an experienced and focused

operator with more than 40 years of history.

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