Klaveness Ship Holding AS – contemplating new senior unsecured bond issue

Klaveness Ship Holding AS (“Klaveness” or the “Company”) is contemplating the issuance of a new senior unsecured bond issue with maturity in May 2021.

Net proceeds from the new bond issue will be used for general corporate purposes and refinancing of Klaveness’ existing bond issues KSH01 PRO and KSH02 PRO.

Subject to completion and settlement of the contemplated new bond issue, Klaveness will redeem KSH02 PRO (ISIN: NO0010705874) with maturity in March 2020 in full at a price of 101.54% of par value plus accrued and unpaid interest by way of introducing an early mandatory redemption in the bond agreement. A separate summons to a bondholders’ meeting is published on www.stamdata.no. The Company has already received support from 2/3 of the bondholders in KSH02 PRO for such proposal. Conditional upon successful placement of the new unsecured bond issue and customary conditions for settlement of the contemplated new bond issue being in place, as well as formal confirmation from the Nordic Trustee confirming the approval by bondholders in KSH02 PRO of the mandatory early redemption, Klaveness will exercise the call option in KSH01 PRO (ISIN: NO0010675986) to redeem KSH01 PRO in full at 103.0% of par value plus accrued interest.

For more information and an updated company presentation, go to www.klaveness.com.

Danske Bank Markets, DNB Markets and Pareto Securities have been retained as joint lead managers of the contemplated bond issue.


For further information, please contact:

Lasse Kristoffersen (CEO, Torvald Klaveness), Tel.: +47 22 52 62 38

Rebekka Glasser Herlofsen (CFO, Torvald Klaveness), Tel.: +47 22 52 64 41


Summons to Bondholders’ Meeting

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