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    DOF secures agreement for NKr 3.8 billion loan

    Company News // July 18, 2016

    DOF in Norway says all of its banks have agreed a long term debt refinancing plan for the company, and that this now includes a new senior loan facility for DOF Rederi of NKr 3.8 billion.

    In a statemenbt, DOF said the company's banks will as part of the refinancing contribute with a 75 per cent reduction of amortizations on the bank facilities in DOF Rederi and 50 per cent-owned DOF Deepwater AS for a three year period with a total liquidity effect of NKr 1,300 million.

    The amended bank facilities are subject to documentation and conditions precedent satisfactory to the lenders and customary for similar transactions and conditional upon, inter alia, completion of the right issue and  restructuring of the bond debt in DOF ASA.

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