Norwegian Air Shuttle - NOK 1,293 million - Private Placement

Arctic Securities would like to congratulate Norwegian Air Shuttle on the highly successful private placement and convertible bond issue securing NOK 2.5 billion in gross proceeds. After the completion of these transactions, Norwegian is fully funded through 2020 and beyond based on the current business plan. The proceeds will secure required financing of working capital during the winter season and create headroom to financial covenants while completing the strategic transformation of the company.

Arctic Securities acted as joint bookrunner in relation to the NOK 1,293 million private placement of 27,250,000 new shares and 5,078,752 existing shares. The private placement was carried out after close of trading on 5 November 2019 and received significant interest from both existing shareholders and new high-quality investors.

We are grateful for continued vote of confidence and look forward to following Norwegian Air Shuttle on its journey!

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