BW Group Limited announces the early results of the tender offer for the 6.625% notes due 2017

BW Group Limited (the “Company”) announced on January 13, 2014 (the “January 13 Announcement”) that it had commenced a tender offer (the “Tender Offer”) to purchase for cash any and all of the Company’s outstanding 6.625% Notes due 2017 (the “Notes”).  On January 28, 2014, the Company announced the extension of the Early Tender Date to the Amended Early Tender Date of 5:00 p.m., New York City time, on January 30, 2014 (the “January 28 Announcement” and, together with the January 13 Announcement, the “Announcements”).  Capitalized terms used in this announcement shall have the same meanings ascribed to them in the Announcements.

The Company today announced that US$301,780,000 principal amount of the Notes had been validly tendered (including US$20,000,000 principal amount of Notes held and tendered by the Company) in the Tender Offer, representing 60.36% of the total amount of the US$500,000,000 principal amount of Notes outstanding, as of the Amended Early Tender Date.  As of the Amended Early Tender Date, US$198,220,000 principal amount of the Notes had not been tendered pursuant to the Tender Offer.

The Company has engaged The Hongkong and Shanghai Banking Corporation Limited as Dealer Manager for the Tender Offer. Bondholder Communications Group, LLC has been retained to serve as the information and tender agent for the Tender Offer. Requests for documents and questions regarding the tendering of Notes may be directed to Bondholder Communications Group, LLC at  1-888-385-2663 (US Toll Free), +44 (0)20 7832 4580 (London), or +1 212 809 2663 (New York), or by emailing [email protected] or by visiting Questions regarding the Tender Offer may be directed to the Dealer Manager at 1-888-HSBC-4LM (US Toll Free), +852 2822 4100 (Hong Kong), +44 20 7992 6237 (London), or +1 212 525 5552 (New York) or by emailing [email protected].

This announcement is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities.  The Tender Offer is only being made pursuant to and subject to the terms and conditions of the Offer to Purchase that the Company has distributed to holders of the Notes.

About BW Group

BW Group is a leading global maritime group involved in shipping, floating gas infrastructure and deepwater oil & gas production, and has been delivering energy and other vital commodities for more than 80 years, with a current fleet of over 180 ships.  The group was founded by Sir YK Pao in Hong Kong in 1955 as World-Wide Shipping. In 2003, the group acquired Bergesen, Norway’s largest shipping company founded in 1935, and in 2005, the business was re-branded as BW. Today, BW Group operates the world’s largest gas shipping fleet (LNG and LPG combined), with a total of over 70 large gas vessels including FSRUs (floating storage and regasification units). BW Offshore operates the world’s second largest floating oil and gas production fleet (FPSOs), with 16 units in US, Brazil, Mexico, West Africa, North Sea, and Australasia. BW’s fleet also includes crude oil supertankers, refined oil tankers, chemical tankers and dry bulk carriers.