August 18, 2020
Hunter Group ASA - Refinancing Update
Oslo, 18 August 2020
Hunter Tankers AS (the "Company"), a wholly owned subsidiary of Hunter Group ASA, is pleased to announce that it has exercised its call options pursuant to the sale-and-leaseback agreements with SFL Corporation Ltd. and repurchased Hunter Atla and Hunter Saga for a combined amount of approx. USD 117.8m (the “Transaction”). Consequently, the two vessels are now in full ownership of the Company. Concurrently with the Transaction, the Company has utilized approx. USD 100.4m of the loan facility with Danske Bank, DNB, Nordea and SEB announced on 18 June 2020.
The Transaction will reduce the Company's leverage, cost of capital and cash breakeven levels. This is in line with the Company’s previously communicated capital allocation strategy.
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.