Zalaris

Capital/Financing Update • Sep 14, 2018

Successful placement of new senior secured bond issues

Successful placement of new senior secured bond issues

Reference is made to the press release dated 10 September 2018 by Zalaris ASA ("Zalaris"). Zalaris has successfully completed the issuance of EUR 35 million senior secured bonds, with a EUR 70 million borrowing limit. The bond issue received strong demand from high quality institutional investors. Settlement is expected to be 28 September 2018, with final maturity 28 September 2023. The bond has a floating coupon of 3m EURIBOR + 4.75% p.a. An application will be made for the bonds to be listed on Oslo Børs. Net proceeds from the bond issue will be used to redeem outstanding long term bank debt in full and certain other minor debt items, as well as to finance the company's growth strategy.

"We are very pleased with the positive response received from bond investors. We are happy that we have been able to place the bond at competitive interest margin of 4.75% p.a., maturity of five years and with a framework amount of EUR 70m. This will provide Zalaris with the necessary flexibility to continue to grow the business organically and the capital needed to pursue selective acquisition opportunities. Going forward our primary objective will be to continue to leverage the capabilities of our scalable platform to drive margin improvements and growth", says Hans-Petter Mellerud, CEO of Zalaris ASA.

ABG Sundal Collier ASA acted as sole managers in connection with placement of the new bond issue.