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2014-04-04

CECON ASA : Appointment of financial advisors

Rever has appointed financial advisors ABG Sundal Collier Norge ASA, Pareto Securities AS, and RS Platou Markets AS to investigate the opportunities for a takeout financing for their first vessel Cecon Pride, to be delivered from Davie Yards in Quebec April/May.
Cecon ASA ("Cecon"), through its subsidiary Rever Offshore AS ("Rever"), has appointed financial advisors ABG Sundal Collier Norge ASA, Pareto Securities AS, and RS Platou Markets ASs to investigate the opportunities for a takeout financing for their first vessel Cecon Pride. To repay the construction financing, specifically the tranche A and tranche B bonds funded by York Capital Management Global Advisors, LLC and its affiliates (York), the ship owning company Cecon Shipping 2 AS is contemplating to issue a senior secured bond of approximately USD 130 million.
Cecon will be entering into discussions with current senior and junior bondholders to seek the necessary consent for the refinancing and structural adjustments.

For more information, please contact

Øyvind M. Jensrud
CFO, Rever Offshore AS
+47 90836106

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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: CECON ASA via Globenewswire

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