Noreco fixes USD 1.0 billion interest rate exposure under RBL facility until June 2024
Oslo, 16 July 2021: Norwegian Energy Company ASA (“Noreco” or the “Company”) has entered into a USD 1.0 billion swap transaction with a group of banks to fix the Company’s floating interest rate exposure under its Reserve Based Lending (“RBL”) facility from 1 Nov 2021 until 30 June 2024. Noreco will as a result pay interest on its RBL cash drawings equal to 0.4041 percent plus the applicable margin. This is in line with the Company’s desire to minimise pre-Tyra cashflow exposure to potential future market volatility. “Fixing our interest rate exposure is a further step taken by us to