23 Nov 2006

Signing of € 400 million syndicated credit facility

Norske Skog has signed a new € 400,000,000 Multi-currency Revolving Credit Facility, which will carry a maturity of 5 years and 3 months. The purpose was to refinance Norske Skog's existing € 400,000,000 Credit Facility dated 21st October 2002, which matured partly in 2007 and partly in 2009. The new facility will become part of the company's liquidity reserve, as was the case also with the old one.
The Joint Mandated Lead Arrangers are Danske Bank A/S, ING Wholesale Banking, The Royal Bank of Scotland plc and SEB Merchant Banking. A total of 19 banks participate in the new facility, which was oversubscribed by 40 %.
Oxenøen, November 23, 2006
Corporate Communication
Contact persons:
Odd-Geir Lyngstad, VP Corporate Treasury, + 47 6759 9274
Jarle Langfjæran, VP Investor Relations, + 47 6759 9338