Norsk Hydro Secures New Sustainability-Linked Revolving Credit Facilities Worth USD 1.6 Billion and USD 800 Million
Credit Facilities Agreement: Norsk Hydro ASA has signed two revolving multi-currency credit facilities worth USD 1,600 million and USD 800 million, with terms linked to the company's greenhouse gas emission targets.
Purpose and Structure: The new facilities will replace existing undrawn credit lines and are intended for general corporate purposes, providing immediate liquidity through sub-facility swinglines.
Commitment to Sustainability: The margin of the credit facilities will be adjusted based on Hydro's progress in reducing CO2 emissions, reflecting the company's commitment to its climate roadmap for 2030.
Key Financial Partners: The transaction involved several major banks, including DNB, ING, and SEB, with DNB acting as the Facility Agent and Documentation Agent, and ING and SEB serving as Joint Sustainability Coordinators.
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