PLACEMENT OF A NOK 1,400 MILLION 5 YEARS SENIOR UNSECURED BOND ISSUE

Fred. Olsen Energy ASA has successfully completed a NOK 1,400 million senior unsecured bond issue.

Settlement date will be 12 May 2011 and maturity date 12 May 2016. An application will be made for listing of the bonds on Oslo Stock Exchange as soon as possible.

Net proceeds from the bond issue are to be used for general corporate purposes.

ABG Sundal Collier Norge ASA and Nordea Markets acted as Joint Lead Managers of the bond issue.

 

For further information, please contact:

Hjalmar Krogseth Moe, CFO                           +47 22 34 12 49

Jannicke Nergaard Berg, Finance Manager      +47 22 34 12 41


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