Debt and credit facilities
Finance policy and financing of the REC Group
- REC shall maintain access to various sources of funding and shall strive to have sufficient equity capital to implement the business strategies
- REC shall aim to maintain long term capital structure and financial performance corresponding to investment grade
- REC aims to maintain high degree of financial flexibility by keeping sufficient cash or cash equivalent or undrawn committed credit facilities
- REC shall at all times maintain financial ratios within the limits defined in the loan agreements of REC ASA and subsidiaries
Debt and credit facilities
REC has through syndication established a relationship bank group consisting of Citigroup, DnB NOR, Handelsbanken, HSBC, Nordea, SEB and UOB.
In April 2011, REC ASA issued new senior unsecured bonds in the Norwegian market; NOK 500 million and NOK 700 million with 5 and 7 years tenors respectively. As part of the bond offering, REC bought back NOK 600 million of the existing NOK 1,250 million bond. The primary purpose of the transactions was to extend the company’s debt maturity profile.
Additional information on REC’s exiting bond loans can be viewed by clicking on the blue boxes on the right hand side.
Debt maturity profile
For additional information on drawn and undrawn credit facilities at the end of each quarter, please click on the grey box on the right hand side.