Investors

Debt Financing

Pandion Energy has established long-term interest-bearing debt financing consisting of the following bank and bond loans:

Reserve based lending (“RBL”) facility

The RBL facility was established in 2018 as a USD 150 million senior secured seven-year facility. In 2019, the maturity was extended by one year, until 1 July 2026. In 2022, the RBL facility was amended and extended to a new USD 200 million seven-year facility with an additional uncommitted accordion option of USD 200 million. The interest rate is from 1-3 months SOFR plus margin of 3.5%.

Senior Unsecured Bond

The USD 75 million senior unsecured bond was issued in 2022 and runs from June 2022 to June 2026. The bond carries a fixed interest rate of 9.75%.

The Company intends to list the senior unsecured bond at the Nordic Alternative Bond Market, Nordic ABM, a list of registered bonds for which Oslo Børs (i.e. Oslo Stock Exchange) determines the rules in consultation with market participants.