Noreco will as a result pay interest on its RBL cash drawings equal to 0.4041 percent plus the applicable margin. This is in line with the Company's desire to minimise pre-Tyra cashflow exposure to potential future market volatility.
"Fixing our interest rate exposure is a further step taken by us to enhance pre-Tyra cashflow visibility and reduce uncertainty. Together with the Company's material hedging arrangements and recent proposed amendments to NOR14, we are continuing to optimise our capital structure in the near-term to deliver Tyra," said
***
Contacts:
Phone: +44 7979 690622
Email: es@noreco.com
Phone: +47 91 52 85 01
Email: ct@noreco.com
About
Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The Company's shares are listed on the
https://news.cision.com/noreco/r/noreco-fixes-usd-1-0-billion-interest-rate-exposure-under-rbl-facility-until-june-2024,c3386157
(c) 2021 Cision. All rights reserved., source