Sandvika, August 31, 2009; REC is today launching a 5-year fixed rate bond loan through the Norwegian bond market in line with announcement made on May 19, 2009.
REC is today launching a NOK 1 billion 5-year fixed rate bond loan through the Norwegian bond market, the company reserves the right to increase the amount by around 25 percent subject to investor demand and has already received pre-commitments for a substantial portion of the total bond loan.
The bond loan will be applied for listing on Oslo Børs, and Norsk Tillitsmann will act as trustee. The financing is for general corporate purposes, and DnB NOR Markets, Nordea Markets and SEB Merchant Banking act as Arrangers for the issue.
Please contact Jan Krogh-Vennemo in DnB NOR Markets (+47 22 01 77 89), Eivind Solheim in Nordea Markets (+47 22 48 78 64), Thorodd Bakken in SEB (+47 22 82 72 58) or John E. Larsen, Group Treasurer in REC (+47 90 74 65 95) for further information on this issue.
For more information, please contact:
Jon André Løkke, SVP and Investor Relations Officer, Tel: +47 907 44 949
REC is the leading vertically integrated player in the solar energy industry. REC Silicon and REC Wafer are among the world's largest producers of polysilicon and wafers for solar applications. REC Solar is a rapidly growing manufacturer of solar cells and modules, and are also engaging in project development activities in selected segments of the PV market. REC had revenues of NOK 8 191 million and an operating profit of NOK 2 529 million in 2008. Close to 3 000 employees work in REC's worldwide organization. Please also see www.recgroup.com