DOF ASA contemplating new unsecured bond issue

DOF ASA is contemplating the issuance of a new unsecured bond of NOK 500 – 700 million (borrowing limit NOK 800 million) with maturity in February 2018 and a coupon of NIBOR + 4.75%.

Net proceeds from the contemplated bond issue will be used to refinance existing bonds and for general corporate purposes.

In connection with the contemplated bond issue, DOF will consider buying back DOF08 bonds (maturity 9 March 2015) at a price of 104.00, conditional upon subscription in the new bond.

Nordea Markets, Pareto Securities and Swedbank have been retained as arrangers of the contemplated bond issue.

For further information, please contact:

Mons Aase, CEO, Tel: +47 56 18 10 12

Hilde Drønen, CFO, Tel: +47 56 18 10 09

With a multi-national workforce in excess of 4,600 personnel, DOF ASA is an international group of companies which owns and operates a fleet of modern offshore/subsea vessels, and engineering capacity to service both the offshore and subsea market. With over 30 years in the offshore business, the group has a strong position in terms of experience, innovation, product range, technology and capacity.

DOF’s core businesses are vessel ownership, vessel management, project management, engineering, vessel operations, survey, remote intervention and diving operations primarily for the oil and gas sector. From PSV charter to Subsea engineering, DOF offers a full spectrum of top quality offshore services to facilitate an ever-growing and demanding industry.

The company's main operation centers and business units are located in Norway, the UK, the USA, Singapore, Brazil, Argentine, Egypt, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.