Integrated Wind Solutions ASA ("IWS") today announces that it has signed an agreement for aEUR 118.65 million Green Senior Secured Credit Facility withSkandinaviska Enskilda Banken AB ("SEB"),SpareBank 1 SR-Bank ASA ("SR-Bank") and Export Finance Norway ("Eksfin") as an amendment to the pre-existingEUR 56.25 million facility. The proceeds from the facility will be used for long-term post-delivery financing of the first four Commissioning Service Operation Vessel ("CSOV") newbuildings under construction with delivery in 2023 and 2024. The facility has an average 12 year amortisation profile and drawdown will be made when each respective vessel is delivered from the yard. Final maturity of theEUR 36.1 million commercial tranche with SEB and SR-Bank is in Q1 2028. Final maturity of theEUR 82.55 million Eksfin tranche, for which SEB and SR-Bank have provided bank guarantees ofEUR 28 million , is in 2035 subject to the refinancing of the commercial tranche and bank guarantees. The Eksfin tranche qualifies for an attractive 12 year fixed interest rate option with CIRR ("Commercial Interest Reference Rates") levels fixed on the dates of signing of the Norwegian export contracts. CEO Lars-Henrik Røren comments: "We are thrilled to have secured attractive green financing for our four first CSOV vessels. The increased facility highlights the continued support and confidence of our lenders. We are now looking forward to the delivery of our first vessel, IWS Skywalker, scheduled to start commercial operations in Q4 2023." The amended facility of up toEUR 118.65 million is entered into by wholly owned subsidiaries of IWS Fleet AS. The facility corresponds to a leverage ratio of up to 65% of the contracted yard price for the vessels. For further information, please contact: Lars-Henrik Røren CEOIntegrated Wind Solutions Phone: +47 98 22 85 06 E-mail: lhr@integratedwind.com Marius Magelie CFOIntegrated Wind Solutions Phone: +47 920 27 419 E-mail: mm@integratedwind.com About:Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels to the offshore wind industry combined with a suite of adhering services to reduce the levelised cost of energy ("LCOE") for offshore wind. The Company has six Commissioning Service Operation Vessels ("CSOVs") under construction with delivery in 2023, 2024 and 2025 in addition to options for two additional vessels. Furthermore, IWS owns the offshore wind supply-chain service company, IWS Services A/S and has a 30% ownership in the independent advisor, consultancy, data intelligence and wind farm operator firmPEAK Wind Group . This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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