Offshore Rig Accommodation: Floatel Share Offering

Press Release
Thursday, April 04, 2013

Floatel International Ltd is contemplating issuance of approximately USD 150 million new shares on the Oslo stock market.

The company says its share placement will further strengthen their position as a leading provider of high-specification, modern accommodation vessels to the offshore oil and gas industry.

The proceeds from the Private Placement will be used to finance the Company’s new build program for accommodation vessels at Keppel FELS Shipyard, growth capex and for general corporate purposes.

The Company has retained Fearnley Securities and Pareto Securities as joint lead managers and joint book-runners in connection with the Private Placement. ABN-Amro and SEB Enskilda have been appointed as co-managers.

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