Mulitcurrency Facilities Agreement

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Mulitcurrency Facilities Agreement

Multicurrency Facilities Agreement

On 1 November 2021, Vår Energi signed a senior unsecured multicurrency facilities agreement with a group of 12 international banks, refinancing the reserve based lending (‘RBL’) facility. The agreement currently contains one bridge to bond facility, which has no amortisation structure and the full amount outstanding falls due at maturity.

The interest conditions for the facility are determined by the rating and timing. As per 15 November 2022 the following conditions apply:

USD 1.5 billion Working Capital Facility
Maturity November 2024
Margin 1.08%
Commitment fee 35% of margin

USD 1.5 billion Liquidity Facility
Maturity November 2026
Margin 1.13%
Commitment fee 35% of margin