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Statoil ASA: Refinancing of Multicurrency Revolving Credit Facility

STAVANGER, Norway, June 26, 2015 (GLOBE NEWSWIRE) -- On Friday 26 June 2015 Statoil ASA (OSE:STL, NYSE:STO), guaranteed by Statoil Petroleum AS, successfully signed a USD 5.0 billion Multicurrency Revolving Credit Facility. The Facility, which was co-ordinated by Barclays Bank PLC, Deutsche Bank AG and DNB Bank ASA, received unanimous support from the group of existing and new relationship banks invited to participate in the Facility. Following this strong demand, the Company elected to increase the Facility by USD 500 million from the initial launch size of USD 4.5 billion as well as scaling back the participating banks' commitments.

The Facility has a 5-year maturity with two 1-year extension options and will be used for general corporate purposes and as backup for commercial paper programmes. Statoil's existing US$3.0 billion Multicurrency Revolving Credit Facility dated 20 December 2010 will be cancelled as part of the refinancing process.

Further information from:

Investor relations:

Peter Hutton, SVP Investor Relations

+44 7881 918792

Media relations:

Lars Erik Lund, Sr. Advisor Media Relations

+47 41 33 13 69

Finance:

Fride Seljevold Methi, VP, Corporate financing,

+47 95 99 06 59

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

HUG#1932231

Source:Statoil