NIB places credit line with Sparebank 1 SMN for hydropower projects in Norway
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) has signed a loan agreement totalling NOK 1
billion (EUR 133 million) with Sparebank 1 SMN for onledning to small and
medium-sized hydropower enterprises in Norway.
The 15-year-maturity loan programme is earmarked to finance Sparebank 1 SMN's
hydropower projects, most of them between 1 megawatt and 5 megawatts. The loan
programme will cover new hydropower projects and upgrading of existing plants
during 2012-2013.
"This loan is in line with our target to approach SMEs with long-term financing
through intermediary banks. Hydroelectrical power is a clean, renewable energy
source and it therefore fits well under NIB's mandate," says Henrik Normann, NIB
President and CEO.
Financial services group SpareBank 1 SMN is headquartered in Trondheim, and
employs about 1,100 staff at its 54 offices in Trøndelag and in Møre and
Romsdal.
The Nordic Investment Bank is the common international financial institution of
the eight Nordic and Baltic countries. NIB provides long-term financing to the
energy, environmental, transport, logistics and communications, and innovation
sectors for projects that strengthen competitiveness and enhance the
environment. NIB has the highest possible credit rating, AAA/Aaa, with the
leading rating agencies Standard & Poor's and Moody's.
For further information, please contact
Sari Cabell, Senior Manager, Origination, tel. +358 10 618 0519,
sari.cabell(at)nib.int
Arild Moen, Senior Communications Specialist, tel. +358 10 618 0496,
arild.moen(at)nib.int
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originality of the information contained therein.
Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
[HUG#1630345]
Unternehmensinformation / Kurzprofil:
Datum: 31.07.2012 - 07:53 Uhr
Sprache: Deutsch
News-ID 170024
Anzahl Zeichen: 2270
contact information:
Town:
Helsinki
Kategorie:
Business News
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"NIB places credit line with Sparebank 1 SMN for hydropower projects in Norway"
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