Looking for a specific product?

Make a search for products & suppliers, articles & news.

Joint press release from Eksportfinans’ four largest shareholders

The largest owners of Eksportfinans ASA aim to wind down the company in an orderly manner in order to preserve the interests of all stakeholders. In our capacity as shareholders, we presently view the company’s financial status, liquidity position and capitalization as adequate to achieve this.

With reference to Moody’s downgrading of the rating in Eksportfinans ASA from Aa3 to Ba1 today, the largest owners of the company will have the interests of all stakeholders in focus, alongside own interests as shareholders.

 

No new loans will be granted from Eksportfinans going forward. Eksportfinans will be managing Norway’s export financing on behalf of the Kingdom of Norway until the new permanent organization is in place, no later than July 1, 2012. The company’s funding and liquidity situation is assessed to be well matched to its needs going forward.

 

Eksportfinans is considered to be adequately capitalised to manage the run-off portfolio. The existing loan book, which is fully supported by government guarantees (42.3%) or bank guarantees (57.7%) also going forward, is not affected by recent developments and the downgrade from Moody’s is not motivated by asset quality concerns. The owners consequently plan to wind down the company in an orderly manner with the aim of maintaining the equity in the company intact.

 

Shareholding
DNB Bank ASA  40.0% ownership share
Nordea Bank Norge ASA  23.21% ownership share
The Norwegian Government 15.0% ownership share
Danske Bank  A/S  8.09% ownership share

Related news

Latest news

Important message at the “AKVAculture Day”

We won’t be able to create growth unless we can handle the industry’s challenges.

Visit from the Ministry of Trade Industry and Fisheries

The Ministry visited in order to learn more about the industry. 

Sohome's new 2018 catalogue is out

Sohome has produced a brand new catalogue. 

Servogear propelled ‘Future of The Fjords’ – Ship of the Year at SMM

The world’s largest maritime trade fair, 

Rapid electrification and rise of wind and solar drive massive expansion and automation of power grids, DNV GL finds

The report forecasts continuing rapid electrification, 

DOF Subsea awarded Frame Agreement and several short-term contracts

The Atlantic region has been awarded a Frame Agreement...

The world’s energy demand will peak in 2035 prompting a reshaping of energy investment

The electrification trend is already enveloping the automotive industry.

DNV GL forecasts gas capital expenditure boost to fuel the energy transition

While DNV GL’s model predicts global oil demand to peak in 2023,

Energy transition offers innovators a competitive edge through “carbon robust” ship designs

The energy transition is undeniable,” says Remi Eriksen