NIB finances regional distribution hub in Norway

NIB has signed a 10-year maturity loan agreement, totalling EUR 23 million, with the Norwegian retail chain NorgesGruppen ASA to finance a regional distribution hub in the vicinity of the town of Tromsø in Northern Norway.

Completed in October 2011, the new distribution hub handles all the logistical operations of NorgesGruppen’s wholesale division in Northern Norway. The new hub, located outside Tromsø city, diminishes the need for road transportation. Additionally, it annually cuts the absolute use of energy by 3 GWh, and it reduces the direct exposure to operational noise and air emissions compared with a former hub located in the city centre.

NorgesGruppen ASA is the largest food retail chain in Norway with a 38.5% market share. Its wholesale operation ASKO is the largest in Norway. The retail stores in Norway are within the chain concepts Meny, SPAR, Kiwi, Joker and Ultra.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Vagn Lundhøj, Senior Manager, Origination, at +358 50 416 7848,

Dan-Roald Steinnes, Communications Unit, at +358 10 618 0399,