Successful placement of senior unsecured bonds

Ocean Yield AS (“Ocean Yield”) has successfully completed a new bond issue of NOK 750 million, carrying a coupon of 3 months NIBOR + 3.75% p.a. with quarterly interest payments. The bond issue attracted strong interest and was well oversubscribed. The net proceeds from the bond issue will be applied towards refinancing of outstanding debt and general corporate purposes.

In conjunction with the new bond issue, Ocean Yield has repurchased USD 12 million of outstanding bonds with ticker OCY06 (ISIN: NO0010861594) and NOK 121 million of outstanding bonds with ticker OCY07 (ISIN: NO0010869720). Following these transaction, Ocean Yield holds USD 93.5 million in OCY06 where the total nominal outstanding amount is USD 125 million and NOK 420.5 million in OCY07 where the total nominal outstanding amount is NOK 750 million.

Arctic Securities, Danske Bank, DNB Markets and Nordea acted as Joint Lead Managers in connection with the placement of the new bond issue. BAHR acted as legal advisor to Ocean Yield. An application will be made for the bonds to be listed on Oslo Børs.

Company contacts:

Andreas Røde (CEO), Tel +47 24 13 42 45

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Karl Fredrik Schjøtt-Pedersen (SVP Finance & Investor Relations), Tel +47 951 32 335

Company information:

Ocean Yield AS is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings.