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Fjord1 Completes Refinancing of Debt

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Fjord1 AS (“Fjord1” or the “Company”), the largest ferry and high-speed passenger boat operator in Norway, today announced that it has completed a NOK 6,5 billion debt refinancing. Proceeds will be used to repay the Company’s existing loan facilities including the outstanding bond (ticker FJORD01 and ISIN NO0010810302) and all additional outstanding interest and principal through the maturity date of November 22, 2022. In connection with the completion of the refinancing, Fjord1 expects to launch a buyback offer to its existing bondholders.

Dagfinn Neteland, Chief Executive Officer of Fjord1, said, “We are proud of the confidence our lenders have placed in Fjord1 as we seek to continue providing the safest, most reliable, and environmentally sustainable ferry operations in Norway. As a result of the support of our investors, we have successfully upgraded nearly half of our fleet to hybrid-electric vessels powered by battery technology, and this refinancing ensures we remain well positioned to continue electrifying our fleet to meet the demand for sustainable transportation. The completion of this transaction is emblematic of Fjord1’s resilience in the eyes of the institutional investors, our passengers, and the market at large.”

Pareto Securities AS and Wikborg Rein Advokatfirma AS served as financial advisor and legal advisor, respectively, to Fjord1 in connection with the refinancing.

Fjord1 is owned by Vision Ridge Partners, an alternative asset manager focused on sustainable real assets, and Havila Holding, an investment company owned by the Sævik family in Norway, which together, successfully privatized the Company in August 2021.

About Fjord1
Fjord1 aims to be the safest and most attractive provider of environmentally friendly and reliable transport for customers, clients and partners. Fjord1 is a leading player in the Norwegian ferry market, with close to 80 ferries. The company also operates passenger boat services and has interests in the catering and tourism industries. More information at https://www.fjord1.no/

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Amanda Shpiner/Sara Widmann
Gasthalter & Co.
212-257-4170

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