Contemplating new secured bond issue

26 September 2017 – ice group subsidiary ice group Scandinavia Holdings AS is contemplating to issue a NOK 1.4 billion new senior secured bond with maturity in October 2021.

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The net proceeds from the secured bond shall be used to fund continued growth in Norway and refinance the company’s current NOK 1.4 billion secured facility of which NOK 600 million is an undrawn growth facility. By issuing a NOK 1.4 billion senior secured bond to replace the fully committed amount (including the undrawn secured growth facility), continued subscriber growth is enabled in a more flexible and efficient manner compared to under the existing secured facilities.

The outstanding NOK 800 million senior unsecured bond will remain outstanding following the contemplated refinancing.

Ice group is currently evaluating optimal timing and structure of a future listing of its shares (near term Oslo Børs listing plans are postponed), given the company's various projects and commitments and the potential value creation for its stakeholders.

DNB Markets and Pareto Securities have been appointed as joint arrangers of the new contemplated bond issue.

For further information, please contact:

Investors

Johan Michelsen, Deputy CEO, ice group, tel: +47 410 87 000

Media

Endre Aaberg Johansen, Corporate Communications AS, tel: +47 41 61 06 05, email: endre.johansen@corpcom.no