On September 15th Lehman Brothers Holdings Inc. filed for protection under Chapter 11 of the United States Bankruptcy Code. Following this event Eksportfinans announces as follows:
Eksportfinans ASA has derivative contracts where different units within Lehman Brothers are counterparties. All outstanding derivative contracts are regulated by ISDA agreements with Credit Support Annexes (collateral agreements). The net exposure in these transactions, net of collateral, is not considered significant. Eksportfinans has no other exposure to Lehman Brothers.
Eksportfinans is currently in the process of replacing all transactions that have been terminated.
For more information please contact:
President and CEO Gisele Marchand, phone +47 22 01 22 01, e-mail gma@eksportfinans.no or Head of Communications Elise Lindbæk, phone +47 90 51 82 50, e-mail el@eksportfinans.no.