Kongsberg Automotive secures refinancing
Kongsberg Automotive has secured a new loan facility with DNB, Danske Bank and BNP Paribas to refinance the existing revolving credit facility provided by DNB & Nordea. This new facility is a 3 year financing with two one-year extension options at the first and second anniversary of the facility. “It is important for us to make sure we always optimize our position to stay competitive. Market conditions have improved since 2012 and we are pleased to improve our cost of funding and flexibility accordingly”, said Trond Stabekk, Kongsberg Automotive’s CFO. The new facility will establish