Reference is made to the joint press announcement dated 2 March 2021 from Baker Hughes (NYSE:BKR) and Akastor ASA (Oslo:AKAST). Simultaneous with the completion of the transaction as announced per separate press release, Akastor has today completed a refinancing of its existing Revolving Corporate Credit Facility.
The new Reducing Revolving Credit Facility consists of the following key elements;
- a USD 89 million revolving credit (Facility A) to be reduced by USD 47.5 million on 31 March 2022;
- a NOK 250 million revolving credit facility (Facility B); and
- a NOK 250 million liquidity facility from Aker Holding AS which is subordinated to Facility A and B.
Maturity Date of Facility A and B is 26 February 2023 and the liquidity facility from Aker Holding AS matures one month later on 26 March 2023.
For further information, please contact:
Chief Financial Officer
Tel: +47 917 59 705
This information is subject to the disclosure requirements pursuant to section 5.12 of the Norwegian Securities Trading Act.
Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.