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Debt Financing

Telenor has different sources to access the debt market to achieve financial flexibility. Telenor has official ratings from Moody's Investors Services (Moody's) and Standard & Poor's Rating Services.

> EMTN Programme

The EMTN Programme of Telenor was established in 1996, and is currently the main source for medium and longer dated funding

> Commercial Paper

Telenor ASA has two Commercial Paper Programmes in place for issuing short-dated debt

> Credit Ratings

Telenor has official ratings from Moody's Investors Services (Moody's) and Standard & Poor's Rating Services (S&P).

> Credit Facilities

To ensure financial flexibility Telenor ASA has established committed credit facilities with its core banks.