NORSK T ILLIT S M A N N
N ORW EG IAN
TRUSTEE
(Dette brevet til obligasjonseierne er kim utarbeidet på engelsk. For ytterligere informasjon
vennligst ta kontakt med Norsk Tillitsmann ASA på telefon +47 22 82 94 00.)
To the bondholders in
US$ 180 million FRN Rubicon Offshore Holdings Ltd. Senior Secured Callable Bond
Issue 2007/2014
ISIN NO 001 036172.8
Oslo, 18 July 2011
Mandatory redemption
Norsk Tillitsmann ASA ("NT") is appointed as loan trustee for the holders of the bonds in the
above mentioned loan with ISIN NO 001 036172.8 (the "Loan") issued by Rubicon Offshore
Holdings Ltd. (the "Company").
The Company has today sold the vessel "Rubicon Maverick" for US$ 35,500,000 which
pursuant to clause 10.4 of the amended and restated loan agreement dated 10 March 2011
triggers a partial pro rata redemption of the Loan at par value (100 %) plus accrued interest
within 30 days.
The Record Date will be end of business 19 July 2011.
The Redemption Date will be 21 July 2011
The principal amount to be redeemed is US$ 35,500,000 and the accrued interest to be paid is
US$ 30,322.18 in total a payment ofUS$ US$ 35,530,322.18.
Yours sincerely
Norsk Tillitsmann ASA
L_2479512_V1 15.07.11 95482-012
PO Box 1470 Vika, N-0116 Oslo | Haakon VIIs gate i, Oslo
Switchboard:+47 22 87 94 00 | Fax: +47 22 87 9410 | www.trustee.no