Brief: North Energy renews bank facility of up to NOK 950 mln

North Energy ASA

09/03/2016 12:47

March 9 (Reuters) - North Energy Asa  NORTH.OL  
    * Says signed yesterday an agreement to renew exploration 
financing facility for period 2016-17 
    * says the group of banks providing facility comprises of 
DNB and SEB, with DNB acting as coordinator and agent 
    * says facility is limited up to NOK 950 million 
    * says the facility provides bridge financing to cover the 
tax value paid by the Norwegian government on exploration 
expenses in a year until payment is received from the Petroleum 
Tax Office in the following year 
 
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 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))