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Farstad Shipping ASA - Successful placement of new bond issue

January 26, 2012 - London

Farstad Shipping ASA has successfully completed a NOK 400 million Senior Unsecured bond issue with expected maturity date on 15 February 2017.
Settlement date is expected to be 15 February 2012. An application will be made for listing of the bond on Oslo Stock Exchange as soon as possible.
The net proceeds of the loan will be used for general corporate purposes.
DNB Markets was Sole Arranger of the new bond issue.

Contacts for further information:

CEO Karl-Johan Bakken - tel. +47 901 05 697
CFO Torstein Stavseng - tel. +47 911 07 001

Farstad Shipping's fleet currently consists of 56 vessels (32 AHTS, 21 PSV and 3 SUBSEA) and 6 PSV and 2 AHTS under construction. The company's operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1970 employees engaged onshore and offshore. The company's strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry. The company maintains a long-term charter profile for the fleet.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Farstad Shipping ASA via Thomson Reuters ONE



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