Solstad Offshore ASA - Capital/Financing Update 2015

BOA OFFSHORE AS - NEW CONTEMPLATED BOND ISSUE

Boa Offshore AS is contemplating to issue a new

subordinated bond, with maturity December 2018, in

the Norwegian bond market. The contemplated bond

issue will have an issue amount of NOK 150-200

million and the net proceeds from the contemplated

bond issue will be used for strengthening of the

company's balance sheet and general corporate

purposes.

The bond issue is a part of a proactive approach

undertaken by the company in order to improve

financial flexibility going forward and also

involves new and improved bank terms, possible

cancellation of yard contracts, extension of NFDS

put option and optimizing the cost base.

SpareBank 1 Markets has been retained 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, tugs, 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.

AI assistant