16 Jun 2015

NIB to finance Schibsted’s digital development

NIB and Norwegian Schibsted Media Group have signed a EUR 50 million loan. The loan will contribute to financing the company’s digital transformation.

The media industry is in the midst of a massive restructuring from print to digital media and the process continues at full steam.

“Schibsted wants to be a leader in this evolution. We therefore invest significantly in technology, such as new global platforms for media houses, online markets and digital advertising,” says Rolv Erik Ryssdal, CEO of Schibsted.

The loan has a repayment period of ten years.

Schibsted Media Group has international operations in 29 countries and is based in Oslo, Norway. Its products include online classifieds, financial consumer transaction services and media houses. Schibsted employs more than 6,900 people.

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

Vidar Omholt, Senior Manager Lending, Origination, at +358 10 618 0286,
Arild Moen, Senior Communications Officer, at +358 10 618 0496,