Hafslund Asa News

Hafslund ASA has issued a new bond with a term to maturity of 10 years (2004/2014). The bond has fixed interest rate at 6.20 %, corresponding to a swap spread of 120 basis points. We are very pleased with this. The market for loans with long duration has been poor for corporates for a long time, said CFO Christian Berg. The loan will extend the maturity profile of Hafslund's loan portfolio and the proceeds will be used to refinance loans maturing in the beginning of 2004. The size of the first tranche is NOK 750 million, whereas maximum total amount issued is NOK 1,500 million. The arranger was Swedbank.

Hafslund ASA has hired Ingeborg Aass Holten (42) in the role as Senior Vice President Organizational Development. Holten will be part of Hafslund ASA's Executive Committee and joins the company at the latest 1 May 2004. She will replace Trond Aker who has filled the deputy role since November 2003. Ingeborg Aass Holten joins Hafslund with professional experience from the management consulting company Accenture, where she has worked since August 1997 as Associate Partner. She has been Accenture's specialist within the Human Resources (HR) Practice and she has been responsible for HR-related projects, HR-strategies, personnel management, strategic competence management, leadership development and development of measuring and rewarding systems.