Semi-Annual RBL Redetermination Completed: Cash Borrowing Capacity Remains USD 1.0 Billion

30 June
2021, Q2

Oslo, 30 June 2021: Norwegian Energy Company ASA ("Noreco" or the “Company”) is pleased to announce the scheduled June 2021 semi-annual borrowing base redetermination under the Company’s Reserve Based Lending Facility (the “Facility” or the “RBL”) has been completed by the RBL bank group.
 

Noreco’s borrowing base remains above the Facility’s maximum cash drawing capacity of USD 1.0 billion.  This confirms the liquidity position outlined in Noreco’s 28 June 2021 Trading and Operations Update, with USD 178 million of available undrawn RBL capacity based on cash drawings of USD 822 million at the end of May 2021.  

 

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Contacts: 

Euan Shirlaw, CFO 
Phone: +44 7979 690622
Email: es@noreco.com

Cathrine Torgersen, EVP Investor Relations & Communications 
Phone: +47 91 52 85 01 
Email: ct@noreco.com