Norsk Hydro: Signs new USD 1,300 million revolving credit facility
Norsk Hydro ASA has signed a USD 1,300 million short-term revolving multi-currency credit facility on April 27, 2022. This facility, intended for general corporate purposes, has a 12-month maturity with two optional six-month extensions. It also includes a sub-facility swingline for short-term liquidity needs. The transaction was coordinated by BNP Paribas, Danske Bank, and DNB as lead arrangers, with several banks participating. DNB will serve as the Facility Agent and Documentation Agent for the credit facility.
- Secured a significant credit facility of USD 1,300 million.
- Flexible terms with options for extension, improving liquidity management.
- None.
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Norsk Hydro ASA has on April 27, 2022, signed a USD 1,300 million short-term revolving multi-currency credit facility.
The facility, which is available for general corporate purposes carries a 12-month maturity with two sixth-month extension options at Hydro’s discretion. The entire amount is also available as a sub-facility swingline to cover short-term liquidity needs.
BNP Paribas, Danske Bank and DNB acted as coordinating mandated lead arrangers and bookrunners on the transaction.
In addition, CACIB and ING acted as Bookrunners; whilst Citibank, Goldman Sachs Bank, Handelsbanken, JP Morgan, Nordea Bank, and SEB participated in the transaction as Mandated Lead Arrangers.
DNB will act as Facility Agent and Documentation Agent.
Investor contact:
Line Haugetraa
+47 41406376
Line.Haugetraa@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.molland@hydro.com
FAQ
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What is the significance of the sub-facility swingline in the credit facility?
