- 17 December 2013
Bech-Bruun assists in Noreco refinancing
Bech-Bruun assisted Norwegian oil and gas company Noreco in the negotiation of new bond and security agreements as part of the company’s refinancing in November 2013.
The Norwegian oil and gas company Norwegian Energy Company ASA (Noreco) has completed a refinancing, including a capital increase and the restructuring of bond loans.
The company has issued new bonds of a total nominal value of NOK 3.1bn.
Bech-Bruun worked particularly closely together with Norwegian law firm Schjødt on providing security by way of the Noreco Group's Danish assets in the form of oil and gas activities in the Danish part of the North Sea. Security was provided as part of the bond issuance.
Our advising included the negotiation of the bond and security agreements as well as obtaining the Danish Energy Agency's authorisation to create charges.