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2015-04-17

Hexagon Composites ASA: Notice from Bondholders' meeting and Company refinancing

Reference is made to the stock exchange announcement of 27 March 2015
concerning summons to a bondholders' meeting to approve certain amendments to
the NOK 300 million bond HEX02 (ISIN NO 001 0683717) to provide for early
redemption of the bonds outstanding under the bond issue. The proposed
resolutions were adopted according to the voting requirements of the Bond
Agreement. The Bond Agreement will therefore be changed as set out in the
summons to the meeting. The settlement is expected to take place 24th April
2015 and the total amount to be repaid, including buyback premium and accrued
interest, in total approximately NOK 321.9 million on 24th April 2015.
The Company has also secured extended financing facilities from Skandinaviska
Enskilda Banken AB and DNB Bank ASA in a club deal which will extend current
financing capacity, of NOK 685 million, to NOK 1 billion on an unsecured
basis. The new five year facility will incorporate a revolving credit
facility for up to NOK 685 million as well as a term-loan facility for up to
NOK 315 million.

"The terms on the new facilities allow significant savings in debt servicing
cost through attractive pricing and increased flexibility, whilst increasing
our capability to finance acquisitions" said David Bandele, Chief Financial
Officer."

Please find enclosed the notice from the Bondholder's meeting.

For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 |david.bandele@hexagon.no
Hexagon Composites ASA is a leading global supplier of composite pressure
cylinders for gas applications. Based in Ålesund, Norway, the Group has more
than 550 employees and generated NOK 1,651 million in operating income in
2014. Production is carried out in modern, automated plants in Norway and the
US.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

HEX02_NO0010683717_NB_20150417
http://hugin.info/132600/R/1912058/682380.pdf

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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: Hexagon Composites ASA via Globenewswire

HUG#1912058

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