DNO International ASA completes approx. USD 240 million senior unsecured bond issue

Reference is made to DNO's release dated 9 March, 2011 regarding a contemplated senior unsecured bond issue of USD 200-300 million.

The Company is pleased to announce that the bond offering was completed on 30 March, 2011. The bond issue was split between a USD tranche of approx. USD 140 million and a NOK tranche of approx. NOK 560 million, for a combined amount equivalent to approx. USD 240 million.

The new bond issue has a five year tenor and carries a floating interest rate of LIBOR/NIBOR + 7.50%. The purpose of the bond issue is to refinance the Company's existing bond debt and for general corporate purposes.

DNO has in connection with the bond issue agreed to purchase the aggregate of USD 170.3 million and NOK 307.5 million of its various outstanding bond issues. The new bond issue will be listed on the Oslo Stock Exchange.

ABG Sundal Collier ASA, Fearnley Fonds ASA and Pareto Securities AS acted as joint lead managers for the bond issue.

Oslo, 31 March 2011

DNO International ASA
Corporate Communications

This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act)