Month: October 2021

SUCCESSFUL BOND ISSUE

Mime Petroleum AS has completed a private placement of USD 225 million of new five-year senior secured bonds with a coupon rate of 10.25%. The placement met strong investor demand across international markets.

The bond issue is expected to be settled on or about November 10, 2021, subject to customary conditions precedent. An application will be made for the bonds to be listed. Net proceeds from the bond issue will be used to refinance the Company’s outstanding reserve based lending facility (RBL) and the existing NOK 300 million MIME01 PRO bonds (ISIN NO 0010875032) in full, and finance capital expenditures related to the Balder Future redevelopment. The Company will send a call notice for the MIME01 PRO bonds upon settlement of the new bond issue. Further details on the call option exercise will be announced upon settlement of the new bond.

ABG Sundal Collier ASA, DNB Markets, part of DNB Bank ASA, and Pareto Securities AS acted as Joint Lead Managers for the transaction.

For further information, please contact:

Olav Haugland, CFO

M: +47 915 41 809

E: olav.haugland@mime-petroleum.com

CONTEMPLATED REFINANCING AND USD 225M BOND ISSUE

Contemplated refinancing and USD 225m bond issue, October 19 2021

Mime Petroleum AS has engaged ABG Sundal Collier ASA, DNB Markets, part of DNB Bank ASA, and Pareto Securities AS as Joint Lead Managers to arrange a series of fixed income investor meetings commencing on October 20, 2021. Subject to market conditions, a new 5 year senior secured bond issue may follow.

The purpose of the bond issue is to refinance the Company’s outstanding reserve based lending facility and the existing NOK 300 million MIME01 PRO bonds (ISIN NO 0010875032) in full, and finance capital expenditures related to the Balder Future redevelopment. The Company will, subject to a successful placement, exercise the call option for the MIME01 PRO bonds.

For further information, please contact:

Olav Haugland, CFO

M: +47 915 41 809

E: olav.haugland@mime-petroleum.com