We quote CIRRs in an “indicative term sheet” before the export contract is concluded. The applicable interest rate is finally set on the date the export contract is signed.
The interest payable to Export Credit Norway does not include the guarantee premium payable to the loan guarantors. This will be set in accordance with the guarantors’ assessment of political and commercial risks relating to the project or the company being funded.The total payable interest rate thus equals the interest payable to Export Credit Norway plus the guarantee premium payable to the guarantors.
The interest rates specified above apply to interest-rate offers for up to 120 days during the negotiation period preceding the conclusion of a commercial export contract. An interest supplement of 0.20% is included. If an export contract is concluded (signed) before 14/10-2020, the “pre-contract” CIRR specified in the table will be reduced by 0.20 %.