OKEA ASA: Successful Placement of Senior Secured Bond Issue

12 Jun 2025 14:30 CEST

(Trondheim, 12 June, 2025): OKEA ASA (OSE: OKEA) ("OKEA" or the "Company") has
successfully placed a new USD 175 million senior secured bond issue with a tenor
of 4 years. The new bond will carry a fixed interest rate of 9.125% per annum,
payable semi-annually in arrears.

Net proceeds from the bond issue will be used to call the Company's outstanding
USD 125 million senior secured bonds with maturity in September 2026 (ISIN NO
0013009282) in full at the prevailing call price of 104.563% of par and for
general corporate purposes.

In connection with the bond issue, the Company expects to increase the size of
its super senior revolving credit facility (the "SSRCF") from USD 37.5 million
to USD 45.0 million and extend the tenor for parts of the facility. No amounts
are currently drawn under the SSRCF.

Arctic Securities AS, DNB Carnegie, a part of DNB Bank ASA, and Pareto
Securities AS acted as Joint Bookrunners in connection with the bond issue.

For further information, please contact:

For further information, please contact:
Stig Hognestad, VP Investor Relations
stig.hognestad@okea.no
+47 902 59 040

Or:
Birte Norheim, CFO

birte.norheim@okea.no
+47 952 933 21

About OKEA
OKEA ASA is a leading mid- and late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no

More information:
Access the news on Oslo Bors NewsWeb site

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