News

We refer to the announcement dated 10 May 2019, regarding a contemplated bond issue for Atlantica Tender Drilling Limited (“ATDL”). Due to adverse market conditions, ATDL was not able to conclude the contemplated bond issue. ATDL has therefore been discussing extending the maturity date of its existing bank facility (23 August 2019) and bond issue (23 September 2019) by approximately one year. The lenders under the bank facility have granted ATDL a temporary extension of the maturity date until 20 September 2019 with a view to finalise the ongoing discussions between the company and its secured creditors.

In the beginning of Q2 2019, Atlantica surpassed 4 years with a lost time injury. We are extremely pleased with the safety performance of both units. This achievement demonstrates that the teams onboard both units have committed to and embraced the need to work with the company’s QHSE management system.

Atlantica Tender Drilling Limited (the “Company”) has received credit approvals from a syndicate of new and existing lenders for a new 4-year USD 100 million first lien term loan facility (the “Term Loan”). The Company has further mandated DNB Markets and Pareto Securities as Global Coordinators and Joint Bookrunners and Danske Bank and SpareBank1 Markets as Joint Bookrunners to arrange a series of fixed income investor meetings. A USD 140 million, 4-year, second lien bond issue (the “Bond Issue”) may follow, subject to market conditions. Proceeds from the Term Loan and the Bond Issue will be used to refinance the Company’s existing bank and bond debt.

For further information, please contact:

Kerry Kunz, President & CEO, Atlantica Tender Drilling Limited
Mobile phone: +1 (832) 715-2465
Email: kerry.kunz@atlanticatd.com

Lasse Kjelsås, CFO, Atlantica Tender Drilling Limited
Mobile phone: +47 90849772
Email: lasse.kjelsas@atlanticatd.com

April 18, 2019  Petrobras exercised its right to extend the Beta contract by 180 days commencing in September 2019 through March of 2020.

Please see the attached joint press release concerning Atlantica Tender Drilling Ltd. and Energy Drilling Pte. Ltd. having signed a Letter Of Intent to merge the two companies.

Petrobras has extended the charter contract for the BassDrill Beta by an additional 386 days with options.

Petrobras has exercised their right to utilize a clause in the contract to extend the primary term of the contract duration by 60 days while retaining their right to a further extension(s) utilizing the same clause.  This extends the contract term to the end of June 2018.

Petrobras has exercised their right to utilize a clause in the charter contract for BassDrill Beta which permits extending the primary term of the contract by the sum of accumulated downtime incurred during the original 1500-day term. This extends the term of the contract to the end of August, 2018.

Per the attachment, a notice has today been sent the Company’s shareholders informing that the 2017 Annual General Meeting («AGM») of the Company will be held at Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda, on 21 September 2017 at 3:00 pm (CET).

The proposed agenda comprises solely the ordinary business of the AGM.

Participation by way of proxy only: Shareholders of the Company are asked to submit their proxies for participation to the Company’s registrar in DNB Bank ASA no later than 12:00 CET, 18 September 2017, as further instructed in the attached notice of the AGM.

2017-AGM-Notice-ATDL

Semi Tender Beta ,under contract with Petrobras, has commenced it’s relocation back to Petrobras’s P61 TLP following a hibernation period. Once moored and connected to the TLP there will be a period of time to undertake inspection and reactivation work. After which the Beta is set to resume drilling operations.

Mr. Eriksen has 20 years of extensive international experience within the offshore and shipping industries. From 2008 until 2017 he held various roles with Frigstad Offshore, the last 8 years as CEO. Prior to that he spent more than 10 years in several positions with the A.P. Moller-Maersk Group at several of their international locations, most of the time with Maersk Contractors. From 1997 to 1999 he was with Maersk Line, completing a graduate management trainee programme at Maersk Shipping Academy. Mr. Eriksen was educated at NMH/BI Norwegian School of Management, the University of Oslo, as well as the Officers’ Training School of the Norwegian Army.