Hafslund has today signed an agreement with a syndicate of nine Norwegian and international banks on a revolving credit facility of EUR 500 million as part of refinancing of the Groups loan portfolio. The revolving credit facility has a tenor of five years. Hafslund has achieved favourable terms and conditions. There are no financial covenants in the loan agreement. The revolving credit facility shall be used as backstop for commercial paper borrowing and as a reserve for general working capital purposes.

 

 

Hafslund ASA

Oslo, 31 May 2005