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Hunter Group (Oslo: HUNT) USD 80 million private placement

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Hunter Group intends to raise USD 80 million of new equity through a private placement. The company further announces that it has entered into arrangements for post-delivery bank financing of USD 420 million, and that it is in advanced negotiations for the sale of two of its eight VLCC newbuildings for a price of USD 98 million per vessel. Based on the completion of these events, the company is expected to be fully funded for its remaining programme of six VLCC newbuildings.

The placement will be done at a fixed price of NOK 3.65 per share. Existing shareholders have pre-committed a substantial portion of the placement and provided an undertaking for the remainder of the placement. Accordingly, it is not expected that subscriptions from investors that are not shareholders will be given significant allocation in the placement.

Fearnley Securities acts as a joint lead manager and bookrunner for the placement, which is expected to be closed no later than 23 May 2019 at 08:00.




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