KBN finances third phase of Bergen Light Rail

Green projects
Bergen Bompengeselskap chose KBN when financing the third building phase of Bergen Light Rail. The loan amount is close to NOK 1.2 billion with a green floating rate. This is an interest rate product with a somewhat lower rate than KBN's ordinary floating rate and is offered eco-friendly projects.

- We are more than happy that Bergen Bompengeselskap once more has chosen KBN as their loan provider. - It shows that we can offer flexible financial solutions and competitive terms, says Head of Lending, Lars Strøm Prestvik.

Phase 3 of Bergen Light rail consists of 7.1 kilometer double-track between Rådal and Bergen airport Flesland with seven stops. The Birkelandskrysset stop is combined with a terminal for public transport. Six tunnels, three bridges, six culverts and three footbridges. Between stops the light rail will run on maximum speed of 70 kilometres per hour.

The company services the loan through income from the toll ring in Bergen. The toll ring consists of 14 toll booths and had in 2013 53.5 million vehicles passing. The loan is scheduled to be repaid by April 2024.