Investors

Debt Financing

Pandion has established the following long-term interest-bearing debt financing. The debt financing package includes a combination of bank facility and bond:

Reserve based lending (“RBL”) facility

The RBL facility was established in 2018 and is a senior secured seven-year facility. The maturity was in 2019 extended with one year, until 1 July 2026. The facility is at USD 150 million with an additional uncommitted accordion option of USD 150 million. The interest rate is from 1-6 months LIBOR plus margin of 3.5%.

Senior Unsecured Bond

The senior unsecured bond was established in 2018 and is a bond of NOK 400 million running from April 2018 to April 2023. The interest rate is 3 months NIBOR plus margin of 7.25%, but the interest payments have been fixed using an interest rate swap. The fixed all in rate after the swaps is 10.61%.

In October 2018, the Company listed its 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 of the list in consultation with market participants.

The bond is listed under the symbol PANE01 PRO.

For information at Nordic ABM go to: https://live.euronext.com/en/product/bonds/NO0010820103-XOAM