27 May 2011

Norske Skog - new bank facility

Norske Skog has signed a three-year bank facility of EUR 140 million with DnB NOR, SEB, Nordea and Citibank.

 

Covenants in the new bank facility are interest coverage (EBITDA /net interest expense) and leverage ratio (net interest bearing debt/ EBITDA). The current covenants in Norske Skogindustrier ASA's bank financing will be in place until the existing facility of EUR 400 million is cancelled and repaid.

 

The process to refinance Norske Skog continues through new bond loan and possible securitisation of accounts receivables.

 

 

Oxenøen, 27 May 2011

 

Norske Skog
Corporate communication

 

 

For further information:
Media:
Vice President Corporate Communication     
Carsten Dybevig
Mob: (+47) 917 63 117

 		 Financial markets:
Vice President Investor Relations
Jarle Langfjæran
Mob: (+47) 909 78 434

 

Senior Advisor Investor Relations
Frode Tegnér
Mob: (+47) 906 19 102

 

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.