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Oceanteam successfully completes Debt-to Equity Conversion

Apr 26 2018
Oceanteam Completes Debt to Equity Conversion and Renegotiates the Bond Loan Agreement with ISIN: NO 001 066201.8 referred to as FRN Oceanteam ASA Senior Callable Bond Issue 2012/2017 (the "Bond Agreement" or the "Bond Loan"). 
With reference to the extraordinary general meeting of Oceanteam ASA ("Oceanteam" or "Company") held on 13 April 2018 in which, among others, approval was obtained for the debt-to-equity conversion ("Conversion") of a part of the Bond Loan, Oceanteam is pleased to announce that the Conversion has today been successfully completed and registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). Following the Conversion of USD 62,073,570 (bonds and interest), the amount of USD 5,000,000 of the bonds will be outstanding under the Bond Agreement.
Oceanteam and Nordic Trustee AS as bond trustee for the Bond Loan have further agreed various amendments to the Bond Agreement, which has been amended and restated per 24 April 2018.

About Oceanteam ASA
The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water offshore support vessels and fast support vessels. Oceanteam Solutions' focus is to provide its clients with complete offshore solutions. Oceanteam ASA has been active in the industry as an offshore solutions provider for over twelve years.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact:

CEO (Interim) Meindert van Genderen: +31 20 53 57 570 meindert@oceanteam.nl
CFO Jos van Dijk: +31 20 53 57 570 jos@oceanteam.nl