Aker BP refinances $3.2bn credit facilities with international banks

Aker BP has completed the refinancing of its existing revolving credit facilities through a syndicate of international banks, totaling $3.225bn. This move is expected to strengthen the company's financial position and provide increased flexibility to support its ambitions, according to chief financial officer David Tønne. Both the liquidity and working capital facilities were oversubscribed, indicating strong interest from banking partners.

The new structure includes a $2bn liquidity facility, maturing in 2030 with options to extend to 2032, and a $1.225bn working capital facility, maturing in 2028 with an option to extend to 2029. This refinancing underscores Aker BP's commitment to robust financial management as it continues operations on the Norwegian continental shelf.

Aker BP operates several key field centers, including Alvheim, Edvard Grieg, and Ivar Aasen, and is a significant partner in the Johan Sverdrup field. Headquartered in Fornebu, Norway, the company is listed on the Oslo Børs.