SFL Agrees To Sell Two Suezmax Tankers To Koch Industries' Unit For ~$57M Per Vessel

SFL Corporation Ltd. (NYSE:SFL) ("SFL" or the "Company") today announced that it has agreed to sell two 2015-built Suezmax tankers currently on charter to a subsidiary of Koch Industries, Inc. ("Koch").

The gross sales price is expected to be approximately $57 million per vessel. Net proceeds are estimated at approximately $26 million per vessel after repayment of associated debt and payment of a termination fee to Koch, in accordance with a pre-agreed profit-sharing arrangement.