Stena AB Announces Pricing of Offering of Additional 7.250% Senior Secured Notes due 2031

Gothenburg, Sweden, March 10, 2025 – Stena AB (the “Company”) announced today that its wholly-owned subsidiary Stena International S.A. (the “Issuer”) has priced a private placement of $150 million principal amount of additional 7.250% Senior Secured Notes due 2031 (the “Additional Notes”).

The Additional Notes will have the same terms and conditions as the existing $700 million aggregate principal amount of the Issuer’s Senior Secured Notes due 2031 (the “Original Notes”).

The proceeds from the private placement are intended to be used to fund a portion of the redemption price for the Issuer’s euro-denominated 7.250% Senior Secured Notes due 2028 (the “2028 Notes”). The Issuer has redeemed €200 million principal amount of the 2028 Notes and intends to redeem the remaining €125 million principal amount of 2028 Notes with the proceeds of the sale of Additional Notes. Settlement of the Additional Notes private placement is expected on or about March 26, 2025 and is subject to customary closing conditions.

The Additional Notes will be secured by the drillships Stena Carron and Stena DrillMax.  The Original Notes and the 2028 Notes are also secured by these drillships. With the issuance of the Additional Notes and the redemption in full of the 2028 Notes, the total principal amount of debt secured by these drillships will be reduced to $850 million.

Important note

This announcement is not being made in or into Canada, Australia, Japan, Hong Kong or in any other jurisdiction where it would be prohibited by applicable law. This distribution is for information purposes only and does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in the United States or in any jurisdiction in which, or to any persons to whom, such private placement, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or applicable state securities laws, and may not be offered or sold in the United States or to U.S. persons unless such securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available.

This announcement does not constitute a notice of redemption with respect to the 2028 Notes. Any such notice will be given in accordance with the terms of the indenture governing the 2028 Notes.

Investor and Media Contact:
Peter Claesson
peter.claesson@stena.com
+46 704 855 144