BW Offshore: Exercise of Call Option

ISIN: NO001063807.5 FRN BW Offshore Limited Senior Unsecured Callable Bond Issue 2012/2017

Nordic Trustee AS (the “Bond Trustee”) acts as bond trustee for the Bondholders in the above mentioned bond issue (the “Bond Issue”) where BW Offshore Limited is issuer (the “Issuer”). All capitalized terms used herein shall have the meaning assigned to them in the bond terms originally dated 12 March 2012 and as amended and restated by an amendment and restatement agreement dated 15 July 2016 (the “Bond Terms”).

The Issuer has in a letter to the Bond Trustee on 15 November 2019 notified that the Issuer will exercise the Call Option to redeem the entire Bond Issue in accordance with clause 10.3 (Call Option) of the Bond Terms.

The payment will be carried out as follows:

Redemption amount:    In full

Redemption price:        100% of Nominal Amount plus accrued and unpaid interest

Record Date:                10 January 2020

Settlement Date:          14 January 2020

For further information, please contact:
Ståle Andreassen, CFO, +65 97 27 86 47
Anders S. Platou, Head of Corporate Finance, +47 99 50 47 40

IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:

BW Offshore is a leading provider of floating production services to the oil and gas industry. The company also participates in developing proven offshore hydrocarbon reservoirs. BW Offshore is represented in all major oil and gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 30 years of production track record, having executed 40 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange

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