Vår Energi Announces Successful Refinancing
Source: www.gulfoilandgas.com 9/20/2023, Location: Europe
Vår Energi ASA (OSE: VAR) today announced
the successful refinancing of the senior unsecured working capital facility of
USD 1.5 billion with a new and extended USD 1.5 billion working capital facility
maturing 1 November 2026. The new facility has similar terms as the previous
facility and is provided in equal proportions by 14 international banks. The
facility will be used for general corporate purposes and working capital as well
as providing a liquidity reserve. The refinancing is a testament to Vår Energi's
access to attractive bank financing and supports a continued strong liquidity
position.
Vår Energi is assigned BBB credit rating from S&P and Baa3 from Moody's, both
with stable outlook.
