With reference to press releases of July 12, July 19, July 23, and August 3, 2010, the fully subscribed new USD 200m bond issue was paid on August 10, 2010, and the first USD 39m tranche thereof has been released today as per the terms of the bond agreement, with the remaining balance expected to be released on or about August 19 for, inter alia, prepayment of amounts due to bondholders under the USD 135m FPSO Sevan Hummingbird bond ‘SEVAN03’ who did not participate in the new USD 200m bond. The full bond loan agreement for the USD 200m bond is available at the Corporate website.

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs – Continuing Obligations.

Sevan Marine ASA is specializing in owning, operating and licensing FPSOs and drilling units, based on its patented cylindrical floater technology. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN.
 

For more information, please refer to www.sevanmarine.com.

For further information, please contact: 

Jan Erik Tveteraas, CEO, Sevan Marine ASA (Media)
+47 37404000 office
+47 95214925 mobile

Birte Norheim, VP Finance, Sevan Marine ASA (Analysts)
+47 37404201 office
+47 95293321 mobile