Remedial Successfully Completes Bond Issue

Remedial (Cyprus) Public Company Limited has issued a US $210 million bond loan with a 5 year term. The loan was oversubscribed, and Remedial is very pleased to see the good interest among a number of international investors.

In conjunction with the equity previously raised, the proceeds of this bond issue fully finance the first two of the Company's Elevating Support Vessels, which are currently under construction.

The company CEO Rich Altman said in a comment: "We are pleased to announce that we have secured the full financing of our first two vessels. This allows the management to focus on converting customer interest in the vessels into firm contracts and start the planning for a third vessel, which we believe will be required by customer demand."

SEB Merchant Banking and Swedbank/First Securities were arrangers of the bond issue.


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