The resort to the facility shows that the financial crisis, and restricted access to capital, have spread to every type of issuer. Eksportfinans’ problems were exacerbated by state-guaranteed bank debt.
"The purpose is for us to increase lending," Oliver Siem, executive vice-president and director of treasury at Eksportfinans, tells Euromoney. "There is a real challenge for Eksportfinans and other non-explicitly guaranteed institutions to get long-term financing in the international capital markets right now."
Siem says the government will enact a scheme for...
