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Noreco: Underwritten RBL Increase to USD 1.1 Billion and Maturity Extension


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OSLO, Norway, Feb. 2, 2021 /PRNewswire/ Norwegian Energy Company ASA ( Noreco or the Company ) announces that it has entered into an underwriting agreement with five banks for a USD 1.1 billion Reserve Base Lending facility (the RBL or the facility ) with a seven-year term and maturing in 2028.  As a result of this, the Company will have a strong financial position as it progresses the Tyra Redevelopment project with amortizations scheduled to commence from the second half of 2024.
The USD 200 million increase in the RBL facility and two-year maturity extension will further reinforce the Company s capital structure and is underpinned by a borrowing base that is expected to provide cash drawing capacity of USD 1.0 billion at close.  In addition, Noreco has established a link in the RBL to ESG targets on emissions intensity reduction and power from renewables that will support progression of the Company s ESG strategy. ....

Cathrine Torgersen , Euan Shirlaw , Danish Underground Consortium , Norwegian Energy Company , Investor Relations Communications , Lloyds Bank , Deutsche Bank , Prnewswire Norwegian Energy Company , Oslo Stock Exchange , Reserve Base Lending , Tyra Redevelopment , Chief Financial Officer , டேனிஷ் நிலத்தடி கூட்டமைப்பு , நோர்வே ஆற்றல் நிறுவனம் , முதலீட்டாளர் உறவுகள் தகவல்தொடர்புகள் , லாயிட்ஸ் வங்கி , டாய்ச் வங்கி , ஒசிலோ ஸ்டாக் பரிமாற்றம் , இருப்பு அடித்தளம் கடன் , டைரா மறுவடிவமைப்பு , தலைமை நிதி அதிகாரி ,