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Archer Limited : Amendment of financial covenants

Hamilton, Bermuda (April 20, 2015)

To increase the group's financial flexibility Archer and its lenders under the
multicurrency revolving facility have agreed to certain amendments to its
credit facilities, including an increase in the net interest bearing debt to
12 months rolling EBITDA covenant as well as adjustments to the calculation
of the equity ratio.

Following these amendments, and despite the severe challenges the industry is
facing, Archer expects to be compliant with all covenants under its loan
agreement in the foreseeable future.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Archer Limited via Globenewswire


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