Det Norske Oljeselskap Signs $3 Billion Lending Facility

By Dow Jones Business News, 
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By Dominic Chopping

Norwegian oil company Det Norske Oljeselskap ASA (DETNOR.OS) said Tuesday it has now signed a seven-year $3 billion reserve-based lending facility, fully underwritten by BNP Paribas, DNB, Nordea and SEB.

The facility includes an additional uncommitted accordion option of $1 billion.

This long-term facility will replace the $2.2 billion acquisition bridge facility upon closing of the Marathon Oil Norway acquisition and refinance Det norske's current revolving credit facility.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  07-08-140500ET
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This article appears in: Energy

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