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 is updated annually and constitutes a standardised master agreement for issuance of bonds including private placements and public benchmark bonds.

Credit Facilities

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

Commercial Paper

For issuance of short dated debt Telenor ASA have an ECP programme of EUR 2 billion in place.

Credit Ratings

Telenor has official ratings from Moody’s investors services (Moody’s) and Standard & Poor’s rating services (S&P).

Debt issued by Telenor ASA or any of its subsidiaries is included in the maturity profile. The debt consists of unsecured bonds, commercial papers and debt to financial institutions. The interest-bearing liabilities in subsidiaries are generally not guaranteed by Telenor ASA .

Debt Financing

EMTN Programme

Credit Facilities

Commercial Paper

Credit Ratings

Maturity Profile