2013-03-13T09:16:36 CET

Norske Skog - Covenant reset

Norske Skog has reached an agreement with its bank syndicate resetting first quarter 2013 covenants related to the revolving credit facility (RCF). The new covenants are a leverage ratio of 5.75:1 and an interest cover ratio of 1.75:1. The size of the RCF was reduced to EUR 70 million, from EUR 140 million, a size more in line with actual back-up liquidity requirements of the group. Norske Skog is working on refinancing the bank facility, and has a continuous dialogue with its four relationship banks regarding possible covenant resets for later quarters.

Norske Skog, Communications and Public Affairs

For further information:
Norske Skog media:
Vice President Corporate Communication
Carsten Dybevig
Mob: +47 917 63 117
Norske Skog financial market:
Vice President Investor Relations
Tom Rogn
Mob: +47 948 55 659
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Business Units

Mail

Norske Skogindustrier ASA
PB 294 Skøyen
0213 Oslo
Norway

Phone: +47 22 51 20 20
Main fax: +47 22 51 20 21

Visitors

Norske Skogindustrier ASA
Karenslyst allé 49
0278 Oslo

Norske Skogindustrier ASA, PB 294 Skøyen, 0213 Oslo, Norway

Phone: +47 22 51 20 20 - Main fax: +47 22 51 20 21