Interest bearing debt in the Statkraft AS group amounted to NOK 39.1 billion at 30 June 2011, which of NOK 1.05 billion are state-guaranteed loans through Statkraft SF.

Statkraft’s external financing is achieved primarily through the issue of bonds and commercial papers in the NOK, SEK and EUR markets. Statkraft AS has an EMTN programme registered on the London Stock Exchange (LSE), with standard documentation for all financing. New bonds are listed primarily on the OSE or the LSE.
All debts issued before 1 January 2003 are guaranteed by the Norwegian State. Statkraft SF remains the issuer of the state-guaranteed loans which are lent on, back-to-back, to Statkraft AS. Statkraft AS is the issuer of loans taken out as of 1 January 2003.

Statkraft AS is the group’s parent company. Statkraft AS is wholly owned by Statkraft SF, which is wholly owned by the Ministry of Trade and Industry.