Awilco Drilling PLC: Short-term Financing

Awilco Drilling PLC: Short-term Financing

04 May 2022 22:20 CEST

Awilco Drilling PLC announces that it has signed a short-term shareholder loan
with Awilhelmsen Offshore AS and QVT Family Office Fund LP. The loan is for a
total of up to USD 4 million, structured as a draw-down facility, with interest
rate of 10 percent per annum on the aggregated outstanding principal amount. In
addition, there is an arrangement fee of 2 percent on the total amount. Maturity
date for the loan is 1 July 2022. The loan shall be used for general working
capital purposes.

Aberdeen, 4 May 2022

For further information please contact:

Eric Jacobs, Interim CEO
Phone: +44 1224 737900

Cathrine Haavind, Investor Relations
Phone: +47 93 42 84 64
Email: [email protected] (mailto:[email protected])

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

Source

Awilco Drilling Plc

Provider

Oslo Børs Newspoint