Floatel International Ltd: Successful placement of senior secured bonds

22 Mar 2024 15:32 CET

Oslo, March 22, 2024

Floatel International Ltd has today successfully placed a new senior secured
bond issue of USD 350 million, carrying a coupon of 9.75%. Net proceeds from the
bond issue will be used to refinance all existing outstanding bonds and general
corporate purposes.

DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS acted as Joint
Bookrunners for the bond issue. An application will be made for the bonds to be
listed on Oslo Børs.


For further information, please contact:
Peter Jacobsson, CEO
Tel: +47 46 50 01 33; Mob: +47 934 00 232
Tomas Hjelmstierna, CFO
Tel: +47 46 50 01 33; Mob: +47 934 00 381


INFORMATION ABOUT FLOATEL INTERNATIONAL LTD

Floatel International Ltd was established in 2006 to satisfy market demand for a
new generation of offshore flotels. The Company's vision is to own and operate a
modern, safe, and reliable flotel fleet. The Company has since 2021 its
principal place of business in Norway.

Floatel Group employs some 450 people internationally, including offshore
personnel.

Floatel International Group owns and operates five semisubmersible accommodation
vessels, and all vessels were delivered within the period 2010 to 2016. Two
vessels, Floatel Endurance and Floatel Superior are approved to operate in the
Norwegian sector, and four vessels including Floatel Endurance and Floatel
Superior, are approved for the UK sector.

All vessels are equipped with a dynamic positioning system and are built
according to the latest HSE requirements providing quality and comfort for the
guests onboard. The accommodation capacity of the Floatel fleet ranges from 440
beds to 560 beds. All vessels are equipped with large deck areas, workshops, and
crane support, able to assist complicated offshore hook-up projects and
maintenance and modifications of existing offshore facilities.

Floatel has three bond issuances listed on Nordic ABM, Oslo Exchange, with
ticker codes FLOAT04 PRO, FLOAT05 PRO, and FLOAT06 PRO.

For further information about Floatel International Group, please visit our
website: https://floatel.no/

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