GC Rieber Shipping ASA

06/11/2021 | Press release | Distributed by Public on 06/11/2021 04:00

GC Rieber Shipping: Amendments to credit facilities

GC Rieber Shipping has today received certain amendments to its Subsea & Renewables credit facility prolonging the 80% reduction of scheduled amortization and suspending the cash sweep mechanism until final maturity in December 2022. In consideration of the amendments, GC Rieber Shipping has made a loan prepayment of NOK 69 million. This prepayment thus replaces the cash sweep payment scheduled for June 2021 of approx. NOK 46 million. 'The amendments increase the predictability of GC Rieber Shipping's financing of its existing assets and allow the company to focus on developing new maritime projects as a shipowner and project house', Einar Ytredal, CEO of GC Rieber Shipping, commented. Contact information: Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184 Øystein Kvåle, CFO, GC Rieber Shipping, phone: +47?479 02 919 About GC Rieber Shipping: GC Rieber Shipping is a shipowner and project-house with focus on developing profitable and sustainable maritime projects. Further information about the company, please go to www.gcrieber-shipping.com. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.