Floatel International Ltd:Update regarding standstill extension and discussions with secured financial creditors

The Company remains in constructive negotiations with its key stakeholders, including all lenders under the credit facilities and an ad hoc committee of holders of 1L Bonds (the “AHC”). On 14 April 2020 the Company entered into the Forbearance Agreement with the AHC, as amended on 12 October 2020. The Forbearance Agreement has now been extended until 15 November 2020.

The vessels that are on charter continue to operate as normal and it is business as usual for the Group’s
operations.

For further information, please contact:
Peter Jacobsson, CEO, Floatel International AB – Tel: + 46 31 352 07 00;
Mob: +46 76 856 36 18
Tomas Hjelmstierna, CFO, Floatel International AB – Tel: + 46 31 352 07 00;
Mob: +46 70 261 09 01