Northern Ocean sells Deepsea Bollsta, significantly reduces debt

Northern Ocean Ltd. (NOL) announced on December 15, 2025, the successful closing of its Deepsea Bollsta sale to an Odfjell Drilling Ltd. subsidiary. The transaction resulted in a cash settlement of $480 million.

Following the sale, NOL utilized the proceeds to make substantial debt reductions. The company prepaid a $285 million loan from a group of banks. Additionally, NOL reduced its loan facility with Sterna Finance Ltd. to $100 million.

This information is considered inside information under the EU Market Abuse Regulation. Inquiries can be directed to chief executive Arne Jacobsen or chief financial officer Jonas Ytreland.