News

Oslo, Friday, April 27, 2012
Stock Exchange Notification
CONTEMPLATING NEW BOND ISSUE

In connection with and following the announced restructuring of Blom ASA's ("Blom" or the "Company") balance sheet, where:

· NOK 312 million of the bond loan "FRN Blom ASA Senior Secured Bond Issue 2009/2012", will be converted into equity in Blom, and the remaining NOK
35 million is exchanged into a new convertible bond loan, and


· the maturity of the NOK 50 million bond loan "FRN Blom ASA Senior Bond Issue 2011/2012" was prolonged to 30 April 2015 and the interest rate was
reduced from NIBOR + 11% to NIBOR + 5.5%;

· the Company is offering to issue new senior secured bonds due 8 February 2013 up to a maximum aggregate
amount of NOK 30,000,000. The bonds will carry a coupon of 15% p.a.

The Bonds are offered with pre-emptive rights for the bondholders in the bond loan "FRN Blom ASA Senior Bond Issue 2011/2012" (ISIN NO0010642853) as of 30
April 2012. The Company has appointed ABG Sundal Collier (the "Manager") to assist in the private placement of the bonds. The Manager has received pre-
commitments from existing bondholders in excess of NOK 20 million.

For further information please contact CEO Dirk Blaauw, on tel. +47 22 13 19 20 or CFO Lars Bakklund, tel. +47 22 13 19 34.

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