NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES,
OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.
Odfjell Drilling Ltd. (“Odfjell Drilling” or the “Company”, OSE: ODL) has today
successfully placed new USD 390 million senior secured first lien bonds with a
tenor of 5 years (the “Bonds”). The Bonds will carry a fixed annual coupon of
9.25%, payable semi-annually. The proceeds from the Bonds will be used to
refinance existing debt and for general corporate purposes. An application will
be made for the Bonds to be listed on the Oslo Stock Exchange within six months.
DNB Markets acted as Global Coordinator, while Danske Bank, SpareBank 1 Markets,
ABG Sundal Collier and Fearnley Securities acted as Joint Lead Managers for the
bond issue.
For further queries, please contact:
James Crothers
Investor Relations Officer
+44 (0) 7393 766 446
jchu@odfjelldrilling.com
London, United Kingdom
12 May 2023 Odfjell Drilling Ltd
Important Notice: These materials do not constitute or form a part of any offer
of securities for sale or a solicitation of an offer to purchase securities of
Odfjell Drilling Ltd. in the United States or any other jurisdiction. The
securities of the Company may not be offered or sold in the United States absent
registration or an exemption from registration under the U.S. Securities Act of
1933, as amended (the “U.S. Securities Act”). The securities of the Company have
not been, and will not be, registered under the U.S. Securities Act. Any sale in
the United States of the securities mentioned in this communication will be made
solely to “qualified institutional buyers” as defined in Rule 144A under the
U.S. Securities Act and “major U.S. institutional investors” as defined in SEC
Rule 15a-6 to the United States Exchange Act of 1934. No public offering of the
securities will be made in the United States.
In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation or other investors pursuant to applicable exemptions
from preparing a prospectus pursuant to the EU Prospectus Regulation. The
expression “EU Prospectus Regulation” means Regulation (EU) 2017/1129 of the
European Parliament and of the Council of 14 June 2017 (together with any
applicable implementing measures in any Member State).
In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the “Order”) or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as “Relevant Persons”). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so. The distribution of this announcement and other information
may be restricted by law in certain jurisdictions. Any failure to comply with
these restrictions may constitute a violation of the securities laws of any such
jurisdiction. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions. Specifically, neither this announcement nor the
information contained herein is for publication, distribution, or release, in
whole or in part, directly or indirectly, in or into or from the United States
(including its territories and possessions, any State of the United States and
the District of Columbia), Australia, Canada, Hong Kong, Japan or any other
jurisdiction where to do so would constitute a violation of the relevant laws of
such jurisdiction.