Refinancing of bank loans

Refinancing of bank loans

20.12.2019 - 08:44

Veidekke ASA has refinanced its current bank loans totalling NOK 4.6 billion which were falling due in 2020. The refinancing extends the company’s debt maturity profile.

The new agreements comprise a multi-currency overdraft facility with DNB totalling NOK 3.6 billion, with maturity in November 2021, and a revolving 18-month, NOK 2.3 billion credit facility with SEB with a 12-month extension option.

The agreements give Veidekke a robust financial platform and significant liquidity reserves for future operations.

For more information, contact:
Jørgen G. Michelet, SVP, Finance, +47 917 43 856, jorgen.michelet@veidekke.no

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

For press photos, see www.flickr.com/photos/veidekke

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Its annual turnover is NOK 36 billion, and half of its 8,600 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.