Fred. Olsen Accepts $500M Finance Deal

Fred. Olsen Production ASA has accepted an offer for a US$500 million, 10-year secured revolving credit facility that will be used to refinance existing loans, general corporate funding purposes, and future development of the company's fleet of FPSO/FSOs.

The company expects to enter into final agreements in the late-May / early June time frame.

DnB NOR, Fortis Bank, and Nordea arranged the facility.

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