Aker BP gets commitments for $4 billion refinancing revolver

By Marisa Wong

Morgantown, W.Va., April 25 – Aker BP ASA said it has received firm commitments from a consortium of banks for a $4 billion senior unsecured revolving credit facility.

The revolver will be used to refinance the company’s existing $4 billion senior secured facility.

The new facility will be split equally into a three-year working capital facility and a five-year liquidity facility with extension options, according to a news release.

Signing of the revolver is expected during the second quarter of 2019.

Aker BP is an oil exploration and development company based in Trondheim, Norway.

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