IFLR1000

Akastor $700 million dual-currency refinancing facility

10/3/2016
Refinancing
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$ 704.384 million

Completed

10/3/2016

Overview:

  • Offshore construction company Akastor succeeded in securing a $422 million and NKr2.362 billion revolving credit facility from a syndicate of Nordic banks to refinance its existing debt.
  • The facility was provided by a syndicate of lenders led by Nordea Bank and DNB Bank that also included SEB.
  • Some relevant security assets fell under Cypriot law.

Kurt Stumpo - Journalist

Jurisdictions:

Cyprus
Norway

Deal type:

Refinancing

Practice area:

Banking

Governing law:

Norway

Industry sector:

Construction and materials

Firms:
BAHR

Party: Akastor (Borrower)

Lawyer: Richard Sjøqvist

Chrysses Demetriades & Co

Party: Nordea Bank (Facility agent)

Party: DNB Bank (Facility agent)

Party: Skandinaviska Enskilda Banken AB (Lender)

Thommessen

Party: Nordea Bank (Facility agent)

Party: DNB Bank (Facility agent)

Party: Skandinaviska Enskilda Banken AB (Lender)

Lawyer: Hans Haugstad

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