September 6, 2019
Hunter Group ASA - Sale And Leaseback Transaction
Oslo, 6 September 2019
Hunter Tankers AS (the «Company»), a wholly owned subsidiary of Hunter Group ASA, has entered into a USD 180 million sale-and-leaseback transaction with Ship Finance International Limited (“SFL”), for an initial three VLCCs at highly attractive terms.
The Company will receive net proceeds of USD 60 million per vessel for the sales of Hunter Atla (5455), Hunter Saga (5456) and Hunter Laga (5460), and will subsequently bareboat charter the vessels back for 5 years. The Company will have purchase options for all three vessels, ensuring maximum flexibility in regards to potential future vessel sales.
Erik Frydendal, CEO of Hunter Group ASA, commented: “This transaction reflects our ongoing efforts to continuously optimize our financing and drive out unnecessary costs wherever possible, while maintaining a high level of flexibility, in order to create value for our shareholders.”
Erik A.S. Frydendal, CEO, firstname.lastname@example.org, Ph.: +47 957 72 947
Lars M. Brynildsrud, CFO, email@example.com, Ph.: +47 932 60 882
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.