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Innlegg av: trani (11.08.17 21:53 ), lest 4140 ganger
Ticker: NSG
Endret: 11.08.17 21:54

nsg - Update on recapitalization process

Norske Skog has received a well-developed recapitalization
proposal from a substantial number of the secured holders of
the SSN (EUR 290m, 2019) bond and the NSF (EUR 100m, 2020)
loan, as detailed in the 28 July 2017 stock exchange release.
Certain unsecured bondholders have further provided an
alternative proposal. To further secure the financial
situation of the operating business, Norske Skog is in the
process of receiving a commitment letter for a EUR 16 million
liquidity facility from a substantial number of the holders of
the SSN and NSF.

"We are very pleased that key stakeholders are willing to
support the business operations of Norske Skog through
liquidity facilities like the offered loans. Our paper mills
are highly competitive business units with a prosperous future
irrespective of the final solution to the group's capital
structure. We have now secured the operating business by both
relief on interest payments and this new financing, and there
should be no reason to question the stability of our operating
business through the refinancing" said Lars P.S. Sperre,
President and CEO of Norske Skog.