Havila Kystruten AS: Completion of Comprehensive Debt Refinancing

Havila Kystruten AS ("Havila Kystruten" or the "Company") announces that the previously disclosed EUR 456 million refinancing has now been completed. Closing took place on 24 November 2025 following satisfaction of all customary conditions.

The refinancing has been implemented through a 15-year financial lease facility provided by a subsidiary of Havila Holding AS. All outstanding bond debt and shareholder loans have been fully repaid at closing, and no new equity or convertible instruments have been issued.

Following closing, the final hire schedule under the facility has been confirmed. The total hire equals EUR 150,000 per day, consisting of a fixed hire equivalent to EUR 93,000 per day in year 1, EUR 107,500 per day in year 2, EUR 114,750 per day in year 3, and EUR 125,000 per day in year 4, EUR 127,000 per day in year 5, and EUR 123,500 per day from year 6 onwards. The remaining variable portion of the hire, relating to the junior tranche, is payable either in cash or through payment-in-kind (PIK) at the Company’s discretion.

Completion of the refinancing provides the Company with a stable and predictable financing structure, which may be optimized or refinanced at a later stage.

Contacts:
Chief Executive Officer: Bent Martini, +47 905 99 650
Chief Financial Officer: Aleksander Røynesdal, +47 413 18 114

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