BLUENORD ASA
The margin payable under the Facility remains in line with the borrowing cost of the existing RBL and the Facility also includes an Accordion option of up to
Noreco's cash drawings under the existing RBL are
In line with Noreco's commitment to ESG, the Facility will include KPIs based on emissions intensity and renewable electricity generation that will progressively adjust the margin payable through the life of the Facility.
"The successful completion of our previously announced RBL refinancing is an important milestone for Noreco, ensuring the Company continues to have a strong capital structure and remains fully-funded to deliver the Tyra Redevelopment project. The new, enlarged Facility demonstrates the quality, longevity and value of our asset base, while also providing a mechanism to economically incentivise the meeting of our ESG objectives. The existing and new lenders in our RBL bank group have reiterated their long-term view of Noreco, and this confidence in our ability to deliver value for our stakeholders is highly appreciated," said
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Contacts:
Phone: +44 7979 690622
Email: es@noreco.com
Phone: +47 91 52 85 01
Email: ct@noreco.com
About
Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The Company's shares are listed on the
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