KONGSBERG Pens Revolving Credit Facility with Five Banks

  • Business & Finance

Kongsberg Gruppen ASA (KONGSBERG) has signed a new $253 million revolving credit facility with a syndicate of five banks. The facility has a tenor of five years, plus two one-year extension options.

Hans-Jørgen Wibstad, Chief Financial Officer of KONGSBERG
Hans-Jørgen Wibstad, Chief Financial Officer of KONGSBERG

The new facility is for general corporate purposes, and replaces the $167 million revolving credit facility with maturity in June 2015, which KONGSBERG has had since 2007. The facility is undrawn.

“We are very pleased with the strong trust given to KONGSBERG from our core banks,” says Hans-Jørgen Wibstad, Chief Financial Officer of KONGSBERG “This is an important milestone for KONGSBERG, and the terms of the facility reflects the strong trust and long term relationship that has been established.”

DNB Bank ASA acts as coordinator and facility agent for the facility. Bookrunners and Mandated lead arrangers are Danske Bank A/S, DNB Markets, a part of DNB Bank ASA, J.P. Morgan Limited, Merchant Banking, Nordea Bank Norge ASA and Skandinaviska Enskilda Banken AB.

Press Release, April 10, 2014
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