DOCSLIB.ORG

Statkraft As €6,000,000,000 Euro Medium Term Note Programme

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Statkraft As €6,000,000,000 Euro Medium Term Note Programme OFFERING CIRCULAR STATKRAFT AS (a limited company registered under number 987 059 699 with the Norwegian Register of Business Enterprises) €6,000,000,000 EURO MEDIUM TERM NOTE PROGRAMME ______________________________________________________________ Under this €6,000,000,000 Euro Medium Term Note Programme (the Programme), Statkraft AS (the Issuer) may from time to time issue notes (the Notes) denominated in any currency agreed between the Issuer and the relevant Dealer (as defined below). The maximum aggregate nominal amount of all Notes from time to time outstanding will not exceed €6,000,000,000 (or its equivalent in other currencies calculated as described in the Programme Agreement described herein), subject to increase as described herein. The Notes may be issued on a continuing basis to one or more of the Dealers specified on page 7 and any additional Dealer appointed under the Programme from time to time (each a Dealer and together the Dealers), which appointment may be for a specific issue or on an ongoing basis. References in this Offering Circular to the relevant Dealer shall, in the case of an issue of Notes being (or intended to be) subscribed by more than one Dealer, be to all Dealers agreeing to purchase such Notes. Notes may be issued in bearer form (Bearer Notes), registered form (Registered Notes) or uncertificated book entry form cleared through the Norwegian Central Securities Depositary, the Verdipapirsentralen (VPS Notes and the VPS, respectively). An investment in Notes issued under the Programme involves certain risks. For a discussion of these risks see “Risk Factors”. Application has been made to the Financial Conduct Authority in its capacity as competent authority (the UK Listing Authority) for Notes issued under the Programme during the period of 12 months from the date of this Offering Circular to be admitted to the official list of the UK Listing Authority (the Official List) and to the London Stock Exchange plc (the London Stock Exchange) for such Notes to be admitted to trading on the London Stock Exchange’s regulated market. References in this Offering Circular to Notes being listed (and all related references) shall mean that such Notes have been admitted to trading on the London Stock Exchange’s regulated market and have been admitted to the Official List. VPS Notes will be listed on the Oslo Stock Exchange’s regulated market and, in this case, listed (and all related references) shall be construed accordingly. Each of the London Stock Exchange’s regulated market and the Oslo Stock Exchange’s regulated market are regulated markets for the purposes of the Markets in Financial Instruments Directive (Directive 2014/65/EU, as amended). Notice of the aggregate nominal amount of Notes, interest (if any) payable in respect of Notes, the issue price of Notes and certain other information which is applicable to each Tranche (as defined under “Terms and Conditions of the Notes”) of Notes will be set out in a final terms document (the Final Terms) which, in relation to Notes to be listed on the London Stock Exchange’s regulated market, will be delivered to the UK Listing Authority and the London Stock Exchange. Copies of Final Terms in relation to Notes to be listed on the London Stock Exchange will also be published on the website of the London Stock Exchange through a regulatory information service. The Notes of each Tranche will initially be represented by either a Temporary Global Note, a Permanent Global Note, a Regulation S Global Note, a Restricted Global Note and/or Definitive Registered Notes (each as defined below) as indicated in the applicable Final Terms. See “Form of the Notes” below. As at the date of this Offering Circular, the Issuer has been rated A- (stable outlook) by Standard & Poor’s Credit Market Services Europe Ltd (S&P) and Baa1 (stable outlook) by Moody’s Investors Service Ltd (Moody’s). As of the date of this Offering Circular, the Programme has been rated A- (stable outlook) by S&P and Baa1 (stable outlook) by Moody's. Each of S&P and Moody’s is established in the European Union and is registered under Regulation (EC) No. 1060/2009 (as amended) (the CRA Regulation). Notes issued under the Programme may be rated or unrated by either of the rating agencies referred to above. Where a Tranche of Notes is rated, such rating will be disclosed in the Final Terms and will not necessarily be the same as the rating assigned to the Programme by the relevant rating agency. Please also refer to “Credit ratings may not reflect all risks” in the “Risk Factors” section of this Offering Circular. ____________________________________________________ Arranger BNP PARIBAS Dealers Barclays BNP PARIBAS Danske Bank DNB Bank Goldman Sachs International Handelsbanken Capital Markets Nordea Santander Global Corporate Banking SEB Société Générale Corporate & Investment Banking UniCredit Bank The date of this Offering Circular is 22 March 2018 IMPORTANT INFORMATION This Offering Circular comprises a base prospectus for the purposes of Article 5.4 of the Prospectus Directive. When used in this Offering Circular, Prospectus Directive means Directive 2003/71/EC (as amended, including by Directive 2010/73/EU), and includes any relevant implementing measure in a relevant Member State of the European Economic Area. The Issuer accepts responsibility for the information contained in this Offering Circular and the Final Terms for each Tranche of Notes issued under the Programme. To the best of the knowledge of the Issuer (having taken all reasonable care to ensure that such is the case) the information contained in this Offering Circular is in accordance with the facts as at the date of this Offering Circular and does not omit anything likely to affect the import of such information. This Offering Circular is to be read in conjunction with all documents which are incorporated herein by reference (see “Documents Incorporated by Reference” below). This Offering Circular shall be read and construed on the basis that such documents are incorporated into and form part of this Offering Circular. Neither the Dealers nor the Trustee (as defined below) have separately verified the information contained herein. Accordingly, no representation, warranty or undertaking, express or implied, is made and no responsibility or liability is accepted by the Dealers or the Trustee as to the accuracy or completeness of the information contained or incorporated in this Offering Circular or any other information provided by the Issuer in connection with the Programme or the Notes or their distribution. No Dealer or the Trustee accepts any liability in relation to the information contained or incorporated by reference in this Offering Circular or any other information provided by the Issuer in connection with the Programme. The statements made in this paragraph are made without prejudice to the responsibility of the Issuer under the Programme. Subject as provided in the applicable Final Terms, the only persons authorised to use this Offering Circular in connection with an offer of Notes are the persons named in the applicable Final Terms as the relevant Dealer or the Managers, as the case may be. No person is or has been authorised by the Issuer or the Trustee to give any information or to make any representation not contained in or not consistent with this Offering Circular or any other information supplied in connection with the Programme or the Notes and, if given or made, such information or representation must not be relied upon as having been authorised by the Issuer, any of the Dealers or the Trustee. Neither this Offering Circular nor any other information supplied in connection with the Programme or any Notes (i) is intended to provide the basis of any credit or other evaluation or (ii) should be considered as a recommendation or constituting an invitation or offer by the Issuer, any of the Dealers or the Trustee that any recipient of this Offering Circular or any other information supplied in connection with the Programme or any Notes should purchase any Notes. Each investor contemplating purchasing any Notes should make its own independent investigation of the financial condition and affairs, and its own appraisal of the creditworthiness, of the Issuer. Neither this Offering Circular nor any other information supplied in connection with the Programme or the issue of any Notes constitutes an offer or invitation by or on behalf of the Issuer, any of the Dealers or the Trustee to any person to subscribe for or to purchase any Notes. Neither the delivery of this Offering Circular nor the offering, sale or delivery of any Notes shall in any circumstances imply that the information contained herein concerning the Issuer is correct at any time subsequent to the date hereof or that any other information supplied in connection with the Programme is correct as of any time subsequent to the date indicated in the document containing the same. The Dealers and the Trustee expressly do not undertake to review the financial condition or affairs of the Issuer during the life of the Programme or to advise any investor in the Notes of any information coming to their attention. Investors should review, inter alia, the most recently published documents incorporated by reference into this Offering Circular when deciding whether or not to purchase any Notes. Amounts payable on Floating Rate Notes (as described in “Terms and Conditions of the Notes – Interest on Floating Rate Notes”) may, if so specified in the applicable Final Terms, be calculated by reference to a Reference Rate (as defined in the Terms and Conditions of the Notes). As at the date of this Offering Circular, no Reference Rate’s administrator is included in ESMA’s register of administrators under Article 36 of the Regulation (EU) No.
Load more

Recommended publications
  • Innst. S. Nr. 71 (2004-2005) Innstilling Til Stortinget Fra Næringskomiteen
    Innst. S. nr. 71 (2004-2005) Innstilling til Stortinget fra næringskomiteen St.prp. nr. 16 (2004-2005) Innstilling frå næringskomiteen om endringar av Kap. 922 Norsk Romsenter løyvingar på statsbudsjettet 2004 under Nærings- Post 50 Tilskot og handelsdepartementet Det er lagt til grunn at den delen av løyvinga til Norsk Romsenter som gjeld tilskot til European Space Agency (ESA) skal justerast dersom valutakursen på Til Stortinget euro har endra seg i budsjettåret i høve til kursen som vart lagt til grunn for saldert budsjett. Samla gir dette SAMANDRAG grunnlag for å auke løyvinga med 4,7 mill. kroner, frå 274 mill. kroner til 278,7 mill. kroner. I denne proposisjonen legg Nærings- og handelsde- partementet fram endringsforslag på statsbudsjettet for Kap. 950 Forvalting av statleg eigarskap 2004 i samsvar med pkt. 2 nedanfor. (jf. kap. 3950 og 5656) Post 70 (ny) Tilskot til pensjonar for tidlegare Kap. 900 Nærings- og handelsdepartementet Raufoss-tilsette, kan overførast (jf. kap. 3900) Etter at dei to siste fabrikkane i Raufoss-konsernet, Post 70 Tilskot til internasjonale organisasjonar Fluid og Chassis, vart selt i mai og juni 2004 til høves- Løyvinga dekkjer tilskot for norsk deltaking i fleire vis Kongsberg Automotive og Neuman-konsernet, er internasjonale organisasjonar, mellom anna for ispatrul- det ikkje lenger aktivitetar att i Raufoss ASA. Selska- jeteneste i det nordlege Atlanterhavet utført av den ame- pet kom 1. juli 2004 under avvikling. rikanske kystvakta. Kostnadane ved ispatruljetenesta vert Samla underdekking av pensjonane i Raufoss-kon- i utgangspunktet dekt av USA som deretter krev refusjon sernet er rekna til 41,159 mill.
    [Show full text]
  • Challenges and Initiatives for the Nordic Seed Stage
    June 2009 Challenges and Initiatives for the Nordic Seed Stage Promoting a common Nordic seed capital market Owner of the initiative: Marcus Zackrisson, Nordic Innovation Centre Initiative coordinators: Erik Johansson & Carl-Peter Mattsson, Nordic Investment Solutions Nordic Seed Capital Forum: Stein Jodal, Innovation Norway, Norway Stine Kruse, Vækstfonden, Denmark Ari-Pekka Laitsaari, Veraventure, Finland Katarina Segerborg, Innovationsbron, Sweden Erik Johansson, Nordic Investment Solutions, Sweden Carl-Peter Mattsson, Nordic Investment Solutions, Sweden Further contributors: Danish Venture Capital & Private Equity Association Norwegian Venture Capital & Private Equity Association Swedish Private Equity & Venture Capital Association European Private Equity & Venture Capital Association Nordic Venture Network Challenges and Initiatives for the Nordic Seed Stage Promoting a common Nordic seed capital market June 4, 2009 Challenges and Initiatives for the Nordic Seed Stage 4 Challenges and Initiatives for the Nordic Seed Stage Content 1. Executive summary ......................................................................................... 6 2. Recommendations ........................................................................................... 8 2.1 General recommendations for Nordic policy makers............................... 8 2.2 Recommended Nordic initiatives............................................................. 8 3. Introduction & context .................................................................................
    [Show full text]
  • Statnett Annual Report 2014
    Annual report 2014 English Statnett Annual report 2014 Content The President and CEO comments on the 2014 annual report 4 Statnett’s strategy 6 This is Statnett 8 Statnett’s tasks 8 Organizational structure 9 Presentation of the Group management 10 Highlights 2014 12 The international interconnector between Norway and Germany is approaching realisation 12 Lofotringen sections now part of the main grid 12 Ørskog-Sogndal to be completed in steps 12 Skagerrak 4 and the Eastern Corridor strengthened transmission capacity to Denmark 12 Measures to improve information security 13 New Regulation and Market System (LARM) 13 Statnett’s former head office in Huseby has been sold 13 Ytre Oslofjord completed 13 Common price calculation in Northwest-Europe 13 Regional control centres in Sunndalsrøra and Alta merged 13 Financial framework conditions 14 Statnett’s revenues 14 Key figures 17 Corporate Social Responsibility 2014 18 Statnett’s corporate social responsibility reporting 18 Corporate social responsibility organisation 18 Statnett and society 19 Climate and the environment 24 Our employees 29 GRI 36 Corporate governance 41 Statement on corporate governance 41 Business 42 Equity and dividends 43 2 Statnett Annual report 2014 Equal treatment of owners and transactions with closely related parties 43 Freely negotiable 43 The Enterprise General Meeting 44 Election committee 44 Corporate Assembly and Board of Directors: composition and independence 44 The work of the Board of Directors 45 Risk management and internal control 46 Renumeration of the
    [Show full text]
  • Bane NOR Eiendom AS – Company Presentation Norway's Leading Hub Developer Important Information (1/2)
    Bane NOR Eiendom AS – Company Presentation Norway's leading hub developer Important information (1/2) This presentation and its appendices (collectively the "Presentation") has been produced by Bane NOR Eiendom AS (the "Company") with assistance from Danske Bank, Norwegian Branch and Skandinaviska Enskilda Banken AB (publ) (together the "Managers") in connection with the offering of bonds by the Company (the "Offering"). This Presentation is strictly confidential and may not be reproduced or redistributed, in whole or in part, to any other person. This Presentation has not been reviewed by or registered with any public authority or stock exchange and does not constitute a prospectus. To the best of the knowledge of the Company and its board of directors, the information contained in this Presentation is in all material respects in accordance with the facts as of the date hereof, and contains no omissions likely to affect its import. This Presentation contains information obtained from third parties. As far as the Company is aware and able to ascertain from the information published by that third party, such information has been accurately reproduced and no facts have been omitted that would render the reproduced information to be inaccurate or misleading. Only the Company and the Managers are entitled to provide information in respect of matters described in this Presentation. Information obtained from other sources is not relevant to the content of this Presentation and should not be relied upon. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction.
    [Show full text]
  • Bane NOR Eiendom AS – Company Presentation Norway's Leading Hub Developer Important Information (1/2)
    Bane NOR Eiendom AS – Company Presentation Norway's leading hub developer Important information (1/2) This presentation and its appendices (collectively the "Presentation") has been produced by Bane NOR Eiendom AS (the "Company") with assistance from Danske Bank, Norwegian Branch and and Nordea Bank AB (publ), filial i Norge (together the "Managers") in connection with the offering of bonds by the Company (the "Offering"). This Presentation is strictly confidential and may not be reproduced or redistributed, in whole or in part, to any other person. This Presentation has not been reviewed by or registered with any public authority or stock exchange and does not constitute a prospectus. To the best of the knowledge of the Company and its board of directors, the information contained in this Presentation is in all material respects in accordance with the facts as of the date hereof, and contains no omissions likely to affect its import. This Presentation contains information obtained from third parties. As far as the Company is aware and able to ascertain from the information published by that third party, such information has been accurately reproduced and no facts have been omitted that would render the reproduced information to be inaccurate or misleading. Only the Company and the Managers are entitled to provide information in respect of matters described in this Presentation. Information obtained from other sources is not relevant to the content of this Presentation and should not be relied upon. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction.
    [Show full text]
  • Renewable Energy Policy Making in the EU: What Has Been the Role of Norwegian Stakeholders?
    TECHNICAL REPORT SUBJECT/TASK (title) Renewable energy policy making in the EU: SINTEF Energy Research What has been the role of Norwegian stakeholders? Address: NO-7465 Trondheim, NORWAY Reception: Sem Sælands vei 11 CONTRIBUTOR(S) Telephone: +47 73 59 72 00 Telefax: +47 73 59 72 50 Audun Ruud and Jørgen K. Knudsen www.energy.sintef.no CLIENT(S) SINTEF Energy Research Enterprise No.: NO 939 350 675 MVA TR NO. DATE CLIENT’S REF. PROJECT NO. TR A6860 2009-09-21 Sverre Aam 12E08601 EL. FILE CODE REPORT TYPE RESPONSIBLE (NAME, SIGN.) CLASSIFICATION 090921GJA143436 William M Lafferty Open ISBN N0. RESEARCH DIRECTOR (NAME, SIGN) COPIES PAGES 978-82-594-3416-6 Petter Støa 10 42 DIVISION LOCATION LOCAL FAX Energy Systems Forskningsveien 3b +47 22 96 59 80 RESULT (summary) In December 2008 the EU finally agreed upon a Directive to promote an increased share of energy consumption from renewable sources (the RES Directive). The present report assesses Norwegian stakeholders’ mobilisation as to the formulation of the RES Directive. Although the European Economic Area (EEA) Agreement provides Norway with opportunities for influence during early phases of EU decision-making, this was not considered as feasible by the Ministry in charge. The controversial nature of both the future energy policies in balancing renewables versus petroleum interests, and Norway’s relationship with the EU, contributes to explain the lack of clear, public Norwegian position vis-à-vis the formulation of the RES-Directive. Despite the lack of a clear, public position, some of Norway’s major industrial companies have aimed to influence certain aspects of the EU RES Directive.
    [Show full text]
  • The State Ownership Report 2019
    The State Ownership Report 2019 Contents The Minister’s introduction 7 Category Goal of the highest possible Scope and key figures 8 return over time and where Key issues for the State as owner 16 the State no longer has a How the State exercises its ownership 22 A sustainable portfolio for 1 rationale for its ownership long-term value creation 34 Ambita AS 42 Baneservice AS 43 Entra ASA 44 Flytoget AS 45 Giek kredittforsikring AS 46 Mesta AS 47 Category Goal of the highest possible return over time and where the State has a special 2 rationale for its ownership Aker Kværner Holding AS 50 Argentum Fondsinvesteringer AS 51 DNB ASA 52 Eksportfinans Norway ASA 53 Electronic chart centre AS 54 Equinor ASA 55 Investinor AS 56 Kommunalbanken AS 57 Kongsberg Gruppen ASA 58 Mantena AS 59 Nammo AS 60 Norsk Hydro ASA 61 Nysnø Klimainvesteringer AS 62 Posten Norge AS 63 Statkraft SF 64 Telenor ASA 65 Vygruppen AS 66 Yara International ASA 67 Category Goal of the most efficient possible attainment of 3 public policy goals Andøya Space Center AS 70 Simula Research Laboratory AS 104 Avinor AS 71 Siva – Selskapet for Industrivekst SF 105 Bane Nor SF 72 Space Norway AS 106 Bjørnøen AS 73 Statnett SF 107 Carte Blanche AS 74 Statskog SF 108 Den Nationale Scene 75 Staur gård AS 109 Andøya Space Center AS 76 Store Norske Spitsbergen Kulkompani AS 110 Den Norske Opera & Ballett AS 76 Talent Norge AS 111 Avinor AS 77 Trøndelag Teater AS 112 Eksportkreditt Norge AS 77 Universitetssenteret på Svalbard AS 113 Enova 78 Vinmonopolet AS 114 Entur AS 79 Fiskeri- og
    [Show full text]
  • Phase 3 Report on Implementing the Oecd Anti
    PHASE 3 REPORT ON IMPLEMENTING THE OECD ANTI-BRIBERY CONVENTION IN NORWAY June 2011 This Phase 3 Report on Norway by the OECD Working Group on Bribery evaluates and makes recommendations on Norway’s implementation of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and the 2009 Recommendation of the Council for Further Combating Bribery of Foreign Public Officials in International Business Transactions. It was adopted by the Working Group on 23 June 2011. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. 2 TABLE OF CONTENTS EXECUTIVE SUMMARY ............................................................................................................................. 5 A. INTRODUCTION ................................................................................................................................ 6 1. The on-site visit .................................................................................................................................... 6 2. Outline of the report.............................................................................................................................. 6 3. Economic Background.......................................................................................................................... 7 4. Cases involving the bribery of foreign public
    [Show full text]
  • Annual Report 2019 .Pdf 18MB
    Annual Report Statkraft AS 2019 CONTENT 3 Introduction 3 Statkraft at a glance 6 The Board of Directors 7 The Corporate Management 8 Letter from the CEO 9 Report from the Board of Directors 12 Strategy – Powering a green future 16 Financial performance 20 Segments 25 Risk management 29 Sustainability 31 Sustainability management 33 Statkraft’s contribution 35 Social disclosures 41 Environmental disclosures 45 Economic disclosures 49 Corporate Governance 59 Statements 59 Group Financial Statements 59 Financial Statements 64 Notes 129 Statkraft AS Financial Statements 129 Financial Statements 133 Notes 150 Auditor’s Statement 155 Sustainability Statement 170 Auditor’s Statement 176 Declaration from the Board of Directors and CEO 177 Key figures and Alternative Performance Measures Statkraft is a leading renewable energy company with activities on three continents within hydro, wind and solar. Through our market activities and production assets we create value for our owner, our customers and the societies we operate in. Statkraft at a glance USA Statkraft has 4.000 employees Peru Brazil in 16 countries Chile Europe’s largest producer of renewable energy EBIT underlying Net profit Cash flow from operations 17.6 11.3 12.0 NOK BILLION NOK BILLION NOK BILLION ROACE Net interest-bearing debt Dividend paid in 2019 16.3 16.0 8.5 PER CENT NOK BILLION NOK BILLION Norway Sweden The Netherlands United Kingdom Ireland Germany France Spain Nepal Albania Turkey India Power generated in 2019 Share renewable energy Investments in 2019 61 93 7.4 TWH PER CENT NOK BILLION Standard & Poor's Fitch Ratings' long-term rating long-term rating A- BBB+ 59% Norway 27% Europe 14% Outside Europe 5 ANNUAL REPORT 2019 | STATKRAFT AS 6 The Board of Directors From the left: Vilde Eriksen Bjerknes, Mikael Lundin, Ingelise Arntsen, Asbjørn Sevlejordet, Thorhild Widvey, Peter Mellbye, Bengt Ekenstierna, Hilde Drønen and Thorbjørn Holøs Thorhild Widvey Peter Mellbye Hilde Drønen Born 1956, Norwegian Born 1949, Norwegian Born 1961, Norwegian Chair of the board, member since 2016.
    [Show full text]
  • The Norwegian State's Direct Ownership Of
    The Norwegian State’s Direct Ownership of Companies Climate Related Risks June 2017 The Norwegian State’s Direct Ownership of Companies – Climate Related Risks June 2017 CREDITS Researched and written by: Christina Weimann,Senior Research Analyst Gautier Desme, Senior Research Analyst Research team led by: Lauren Smart, Head of Financial Institutions Report edited and designed by: James Richens, Editor Rebecca Edwards, Marketing ABOUT TRUCOST Trucost is part of the S&P Global family, operated by S&P Dow Jones Indices. Our shared commitment to the environment will allow us to bring essential ESG investment opportunities to the global marketplace, enabling the combined entity to satisfy growing market demand through new products and enhancements of Trucost’s existing capabilities. Trucost assesses and prices risks relating to climate change, natural resource constraints and broader ESG factors. Companies and financial institutions use Trucost intelligence to understand exposure to ESG factors, inform resilience and identify the transformative solutions of tomorrow. Trucost data also underpins ESG indices, including the S&P 500 Carbon Efficient Index® and S&P/IFIC Carbon Efficient Index®. For more information, visit www.trucost.com. ABOUT S&P DOW JONES INDICES S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than based on any other provider in the world. With over 1,000,000 indices and more than 120 years of experience constructing innovative and transparent solutions, S&P Dow Jones Indices defines the way investors measure and trade the markets.
    [Show full text]
  • The Role of Institutions and Policy in Knowledge Sector Development: an Assessment of the Danish and Norwegian Information Communication Technology Sectors
    University of Denver Digital Commons @ DU Electronic Theses and Dissertations Graduate Studies 1-1-2015 The Role of Institutions and Policy in Knowledge Sector Development: An Assessment of the Danish and Norwegian Information Communication Technology Sectors Keith M. Gehring University of Denver Follow this and additional works at: https://digitalcommons.du.edu/etd Part of the International Relations Commons Recommended Citation Gehring, Keith M., "The Role of Institutions and Policy in Knowledge Sector Development: An Assessment of the Danish and Norwegian Information Communication Technology Sectors" (2015). Electronic Theses and Dissertations. 1086. https://digitalcommons.du.edu/etd/1086 This Dissertation is brought to you for free and open access by the Graduate Studies at Digital Commons @ DU. It has been accepted for inclusion in Electronic Theses and Dissertations by an authorized administrator of Digital Commons @ DU. For more information, please contact [email protected],[email protected]. THE ROLE OF INSTITUTIONS AND POLICY IN KNOWLEDGE SECTOR DEVELOPMENT: AN ASSESSMENT OF THE DANISH AND NORWEGIAN INFORMATION COMMUNICATION TECHNOLOGY SECTORS __________ A Dissertation Presented to the Faculty of the Josef Korbel School of International Studies University of Denver __________ In Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy __________ by Keith M. Gehring November 2015 Advisor: Professor Martin Rhodes Author: Keith M. Gehring Title: THE ROLE OF INSTITUTIONS AND POLICY IN KNOWLEDGE SECTOR DEVELOPMENT: AN ASSESSMENT OF THE DANISH AND NORWEGIAN INFORMATION COMMUNICATION TECHNOLOGY SECTORS Advisor: Professor Martin Rhodes Degree Date: November 2015 ABSTRACT The Nordic economies of Denmark, Finland, Norway, and Sweden outperform on average nearly ever OECD country in the share of value added stemming from the information and communication technology (ICT) sector.
    [Show full text]
  • Avinor Is Less Dependent on Carrier Transfer Traffic
    AVINOR Debt investor presentation February 2017 Petter Johannessen, CFO Hilde Vedum, Finance Director Agenda . Key credit highlights . Aviation in Norway and Avinor mission . Ownership and regulatory structure . Business areas . Strategy . Key projects . Financial performance . Funding strategy 2 Avinor Debt Investor Presentation February 2017 In brief 100% state owned limited company Approx. 3000 FTEs Standard & Poor’s: AA- Moody’s: A1 Operating revenues: NOK 10,7 bn 3 Avinor Debt Investor Presentation February 2017 Key credit highlights . More than 90 % market share within airport operations . Sole air traffic controller in Norwegian airspace . Geographic and economic diversification . Resilient in the event of main carrier failing . Good growth prospects . Predictable and solid operating cash flows . Strategic importance to national infrastructure . Strong ratings 4 Avinor Debt Investor Presentation February 2017 Key initiatives . Capacity expansion at Oslo, Bergen and Stavanger . Efficient transfer solution at Oslo airport . Remote tower development with Kongsberg and Indra . Prototyping autonomous snow removal equipment . Aviation biofuel introduced at Oslo airport . Organizational capabilities strengthened . Cost reductions . Efficient security . Quality of airport services (ASQ) . Radisson BLU Airport Hotel Oslo divested in Q4 2015 5 Avinor Debt Investor Presentation February 2017 Mission Ensure safe, efficient and sustainable operation of national aviation infrastructure Objectives . Excellent operations . Adequate ground and air
    [Show full text]