DHT Holdings, Inc. announces $485 million refinancing and increase in revolving credit facility

  
HAMILTON, BERMUDA, April 24, 2018 - DHT Holdings, Inc. (NYSE:DHT) ("DHT") announced that it has entered into a $485 million secured credit facility agreement with a six year tenor for the refinancing of 13 of the Company's VLCCs. The new credit facility will bear interest at a rate equal to Libor + 2.40% and will have a 20-year repayment profile.  Other terms and conditions are also in line with DHT's current credit facilities.

The credit facility was oversubscribed by 60% and all of DHT's nine existing relationship banks committed to significant amounts (ABN Amro, Nordea, Credit Agricole, DNB, ING, Danish Ship Finance, SEB, DVB and Swedbank). 

Also, DHT has entered into an agreement with ABN Amro to increase the Company's revolving credit facility to $57.0 million from the current availability of $43.4 million. The revolving credit is currently undrawn.

The co-CEOs Svein Moxnes Harfjeld and Trygve P. Munthe in a statement commented that the refinancing endorses our access to bank financing at attractive terms through solid support from our relationship banks. The new facility includes a 20-year repayment profile supporting our focus on robust cash break even levels for the fleet.  With the new credit facility and the increased revolving credit facility DHT has:

• extended the maturity for the refinanced facilities to Q2 2024
• increased its liquidity position
• reduced its cash break even

The following credit facilities are being refinanced:

*Not drawn.

With the new financing totaling $485 million compared to the amount to be refinanced totaling about $461 million, the Company will increase its cash position by about $20 million after the payment of fees and expenses.  In connection with the refinancing about $4.4 million in previously paid upfront fees related to the refinanced credit facilities will be expensed in Q2 2018 as part of financial expenses. 

ABOUT DHT HOLDINGS, INC.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC and Aframax segments. We operate through our integrated management companies in Oslo, Norway and Singapore. You shall recognize us by our business approach with an experienced organization with focus on first rate operations and customer service, quality ships built at quality shipyards, prudent capital structure with robust cash break even levels to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts for our fleet and a transparent corporate structure maintaining a high level of integrity and good governance.  For further information: www.dhtankers.com.

FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal fluctuations in vessel supply and demand. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.  These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties.  Given these uncertainties, you should not place undue reliance on these forward-looking statements.  These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results.  For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on April 24, 2018.

The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law.  In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements.

CONTACT:
Eirik Uboe, CFO
Phone: +1 441 299 4912 and +47 412 92 712
E-mail: [email protected]