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    DeepOcean amends credit facility

    Company News // November 12, 2013

    DeepOcean Group Holding has announced that its credit facility agreement has been amended to facilitate the company's growth plans.

    The main terms of the amendment are (i) extension of original maturity date with two years to February 2018,
    (ii) postponement of commencement of term loan amortization until February 2016 and (iii) an increase of €15
    million in the ancillary facility for guarantees to €30 million. DeepOcean’s cost of borrowing under the facility
    remains unchanged.

    "Our expanded credit facility agreement reflects our strong operational performance and robust balance
    sheet. With these changes we have enhanced our financial capacity to pursue our growth objectives," said
    Dennis de Vreede, chief financial officer, DeepOcean.

    ABN AMRO Bank, Barclays Plc, Sparebank 1 SR‐Bank ASA, NIBC Bank and RB International Finance (USA) LLC are the lenders in the facility. The amended facility consists of a €110 million senior secured revolving credit facility, which includes the ancillary facility for guarantees, and a €30 million senior secured term loan facility.


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