Noreco: Successful Closing of USD 1.1 Billion Reserve Based Lending Facility OSLO, Norway, May 5, 2021 /PRNewswire/ -- Norwegian Energy Company ASA ("Noreco" or the "Company") announces the successful closing of its new USD 1.1 billion Reserve Base Lending facility (the "Facility"), replacing the Company's existing USD 900 million RBL. Effective today, the Facility matures in 2028 with a seven-year term that will amortize from the second half of 2024. The margin payable under the Facility remains in line with the borrowing cost of the existing RBL and the Facility also includes an Accordion option of up to USD 400 million that may be used to support potential future commercial opportunities.