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Norske Skog / Investors / Debt financing

General policy

Norske Skog shall operate by these guidelines to have financial flexibility to fund short and long-term capital requirements and to maintain a capital structure that suits the group’s strategy.

  • Norske Skog shall aim to have access to a diversified range of capital sources.
  • Norske Skog shall aim to have a leverage ratio less than 2x. Leverage ratio is defined as net interest bearing debt to last twelve months EBITDA.
  • Norske Skog shall aim to keep the maturity profile on it’s main financing arrangements spread out to reduce refinancing risk. Refinancing of major debt obligations shall be initiated well in advance of respective maturities.

Debt financing

Bank loans
Norske Skog AS has available a EUR 31 million revolving credit facility for working capital purposes. The facility matures in June 2022. In addition, subsidiaries have various smaller credit facilities outstanding.

Bond issue
Norske Skog has a EUR 125 million bond outstanding. The bond matures in June 2022.

ISIN NO0010856123
Issuer Norske Skog ASA
Stock exchange An application will be made for the bond to be listed at Oslo Stock Exchange
Amount EUR 125 million
Coupon rate 3m EURIBOR + 6 % p.a.
Issue date 14 June 2019
Maturity date 14 June 2022

 

Financial covenants
The financial covenants set out below apply for the EUR 31 million revolving credit facility and the EUR 125 million bond, on a group consolidated basis.

  • Leverage ratio shall not exceed 2.75x.
  • Free and available cash and cash equivalents shall not be less than NOK 100 million.

CONTACT INFORMATION

Norske Skog ASA
PB 294 Skøyen
0213 Oslo
Norway
info@norskeskog.com

Phone: +47 22 51 20 20
See more contact information

VISITORS

Norske Skog ASA
Sjølyst plass 2
0278 Oslo