Rates

• Fixed interest rates set by the OECD once a month, referred to as Commercial Interest Reference Rates (CIRR).
• Interest rates on commercial terms in accordance with current market prices, most commonly a reference rate such as LIBOR plus a fixed margin. The offered interest rate must comply with the rules on state subsidies.

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.