08 Sep 2014

Norske Skog signs a EUR 25 million credit facility

Norske Skog has signed a EUR 25 million loan agreement (securitisation facility) with Eurofactor AG (a bank in the Crédit Agricole Group), based on accounts receivables derived from the Austrian mill, Norske Skog Bruck GmbH.

- We have now strengthened our long-term financing of the company through this agreement with Eurofactor, says Sven Ombudstvedt, President and CEO of Norske Skog.

Under the agreement with Eurofactor, Norske Skog will continue to collect the receivables from customers. The duration is minimum three years without financial covenants. The interest cost is competitive compared with similar financing.

As previously announced, Norske Skog Skogn AS, Norske Skog Saugbrugs AS and Norske Skog Golbey SAS have already entered into a total of approximately NOK 600 million loan agreements (securitisation facility) in 2013 and 2014.

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 markets:
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.