23 June 2014

Bergen Group – extension of loan facilities

(Bergen, June 23rd 2014): In early January 2014, Bergen Group completed a refinancing of the offshore division through a bank syndicate loan of NOK 180 million. The loan was repaid by NOK 30 million in Q1 2014, and the repayment of the remaining NOK 150 million was originally set for 30 June 2014. Bergen Group ASA has now accepted an offer from the bank syndicate for an extension of the loan facility until 31 December 2014.

Bergen Group ASA has also agreed on a similar extension of an unsecured loan of NOK 20 million from Flyfisk AS (controlled by Magnus Stangeland, one of the group's main shareholders).

Bergen Group has initiated processes in order to establish a long term financing of the Group during the 2nd half of 2014. The objective is to reinforce the ongoing process of further develop Hanøytangen as an important hub for service- and yard activities related to the offshore industry, subsea-market and maritime industry.

For more information:

CFO Henning Nordgulen, tel. +47 952 65 990