Det norske oljeselskap ASA at the end of June 2015 completed a semi-annual redetermination process with its bank consortium under the company’s USD 3.0 billion reserve-based lending («RBL») facility. The new borrowing base availability under the facility has been increased to USD 2.9 billion, up from USD 2.7 billion at the end of 2014.
The previously announced revolving credit facility (“RCF”) has now been completed with a consortium of banks. All these banks also participate in the RBL facility. Following strong demand, the facility has been increased by USD 50 million to USD 550 million. Apart from the increase in the facility size, terms are as presented in the company’s Q1 2015 report.
Find more information on Det norskes debt and bonds here.