| EDB refinances NOK 1,200 million |
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(Oslo, 10 December 2004) EDB Business Partner has signed agreements to refinance NOK 1,200 million of credit facilities. The financing agreed includes a NOK 1,150 million multi-currency revolving credit facility divided into two tranches, one of NOK 750 million available for five years and one of NOK 400 million available for three years. A separate NOK 50 million facility has also been agreed. The credit facilities will be used to refinance existing loans and credit facilities totalling NOK 1 billion and to finance the group's growth.
The NOK 1,150 million revolving credit facility is managed by DnB NOR, Nordea and Handelsbanken, while the NOK 50 million facility has been arranged bilaterally with DnB NOR.
As part of the refinancing EDB will repay its loan of NOK 450 million on special terms, which matures in June 2005. Interest hedging in connection with this loan will cause a non-recurring financial expense of approximately NOK 8 million in the fourth quarter of 2004. Interest expense in the first and second quarters of 2005 will be reduced by the same amount.
Any enquiries:
Tore Valderhaug, Executive Vice President and CFO. Tel: +47 995 60 925
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