Presentation of Syndicated Loans

A World Leading Arranger of Syndicated Loans and Export Credit Financings for the Maritime Industries

Oslo, 12 October 2015

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Overseas officeMarket presence

• 11 million customersApprox. 10 million personal customers590 000 corporate customers, incl. Nordic Top 500

• Financial strengthEUR 10.2bn in full year income (2014)EUR 725.9bn of assets (Q1 2015)EUR 28.5bn in equity capital (Q1 2015)AA credit rating

• EUR ~46bn in market capOne of the largest Nordic corporationsA top-10 European bank

… the largest financial services group in the Nordics with global presenceNordea

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What is a syndicated loan?

• Wikipedia: A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as arrangers (Wikipedia)

• Investopedia: A loan offered by a group of lenders (called a syndicate) who work together to provide funds for a single borrower. The borrower could be a corporation, a large project, or a sovereignty (such as a government). The loan may involve fixed amounts, a credit line, or a combination of the two. Interest rates can be fixed for the term of the loan or floating based on a benchmark rate such as the London Interbank Offered Rate (LIBOR).

Typically there is a lead bank or underwriter of the loan, known as the "arranger", "agent", or "lead lender". This lender may be putting up a proportionally bigger share of the loan, or perform duties like dispersing cash flows amongst the other syndicate members and administrative tasks. Also known as a "syndicated bank facility".

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Source: Dealogic

Nordea - Leading Bookrunner and Arranger (2014, 2015)

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Nordea as Facility Agent and Security Agent

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• Approx. 150 syndicated loans

• Total amount of approx. $50 billion under agency

• Syndication team is located in Oslo but services all of Nordea’s branches:• New York• London• Singapore• Copenhagen• Helsinki• Gothenburg

• Customers: leading international shipping and offshore corporations

• Syndicate members: leading international banks, financial institutions, funds and export credit agencies within shipping and offshore

Experienced TeamComprising of 10 bankers, 3 lawyers, and external insurance expertise

Ronny BjørnådalSVP & Global Head of

Syndicated Loans

Export CreditFinancings (ECAs)

Origination &

Structuring

Syndication &

Agency

Per Finn-HansenCo-Unit Head &

First Vice President(Oslo)

Anne EngenUnit Head &

First Vice President(Oslo)

Peder A. BogenUnit Head &

First Vice President(Oslo)

Kamilla NordbyAssistant Vice President

(Oslo)

Katrine N. RuudAssistant Vice President

(Singapore)

Ylva Cornelia AxelsenFirst Vice President

(Oslo)

Insurance TransactionManagement (Legal)

BankServeand/or other

professional insuranceconsultants

(London)

James BullAssistant Vice President

(Oslo)

Erik VenoldCo-Unit Head &

First Vice President(Oslo)

Jin Ki KimVice President

(Singapore)

Kyle RitterAssistant Vice President

(Oslo)

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Olav RingdalFirst Vice President

(Oslo)

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A Very Effective Business ModelContinuity throughout the life of the loan provides for efficient execution

Structuring

Origination

Agency

Documentation

SyndicationStructuring

Origination

Agency

Documentation

Syndication

Marketing Material Information Memorandums Company Presentations Road-show Bank Meetings Follow-up Prospective Lenders

Term Sheets Negotiations Projections Mandate Letters Commitment Letters Fee Letters

Identifying Business Opportunities

Financing Discussions w/Management

Pitch Books

Drafting of Loan Documentation Managing Syndicate Banks Transaction Management

Day-to-day Business (i.e., Postings to Intralinks of Financial Reports, Insurances, Compliance Certificate, Broker Valuations, Press Releases, Presentations. Amendment Requests, Waivers, Restructurings, Work-outs.

Two of our recent financings

$1,900m Credit Facilities for Gener8 Maritime – NYSE listed tanker company

• Nordea as Arranger, Bookrunner, Administrative Agent and Security Agent

• 3 separate credit facilities (2 with Export Credit Agencies in Korea and China, respectively)

• Financing of a total of 46 oil tankers

• Worked with law firms in New York, Hong Kong, South Korea and UK

$1,312m Credit Facilities for GasLog Ltd. – Bermudan LNG carrier

• Nordea as Arranger, Bookrunner, Administrative Agent and Security Agent

• 12 banks and 2 Export Credit Agencies (Korea)

• 8 newbuild LNG tankers with total value of $1.617 bn

• Contracts with oil majors at day rates of up to $65,000 - 82,000 per vessel

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20 Largest Transactions Lead Closed by Nordea in 2015

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