PR Newswire | Oct 1, 2021 08:18AM EDT

10/01 07:17 CDT

Akastor ASA completes refinancing of its corporate credit facility OSLO, Norway, Oct. 1, 2021

OSLO, Norway, Oct. 1, 2021 /PRNewswire/ -- Reference is made to the joint press announcement dated 2 March 2021 from Baker Hughes (NYSE: BKR) and Akastor ASA (Oslo: AKAST). Simultaneous with the completion of the transaction as announced per separate press release, Akastor has today completed a refinancing of its existing Revolving Corporate Credit Facility.

The new Reducing Revolving Credit Facility consists of the following key elements;

* a USD 89 million revolving credit (Facility A) to be reduced by USD 47.5 million on 31 March 2022; * a NOK 250 million revolving credit facility (Facility B); and * a NOK 250 million liquidity facility from Aker Holding AS which is subordinated to Facility A and B.

Maturity Date of Facility A and B is 26 February 2023 and the liquidity facility from Aker Holding AS matures one month later on 26 March 2023.

For further information, please contact: yvind Paaske Chief Financial Officer Tel: +47 917 59 705

Oyvind.paaske@akastor.com

This information is subject to the disclosure requirements pursuant to section 5.12 of the Norwegian Securities Trading Act.

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

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SOURCE Akastor ASA