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.