Aker BP completes refinancing of existing credit facilities

Aker BP has successfully refinanced its existing revolving credit facilities through a syndicate of international banks.

“This refinancing further strengthens our financial position and provides increased flexibility to support Aker BP’s strategic ambitions. We are pleased with the strong interest from our banking partners and the competitive terms achieved,” said David Tønne, Chief Financial Officer of Aker BP.

The new facility totals USD 3,225 million, and is structured as follows

• A Liquidity Facility of USD 2 billion, maturing in 2030, with options that could extend maturity to 2032
• A Working Capital Facility of USD 1,225 million, maturing in 2028, with an option to extend to 2029

Both facilities were oversubscribed.