Norske Skog - Covenants - Securitization - Klosterøya - Parenco
(Thomson Reuters ONE) -
Norske Skog has reached an agreement with its bank syndicate resetting covenants
related to the EUR 140 mill. revolving credit facility (RCF) established in May
this year. The new terms give additional headroom in 2012. For details, please
refer to our web pages; www.norskeskog.com/Investors
Norske Skog has ended discussions with a counterparty to establish a
securitization of accounts receivables in Europe without reaching an agreement.
Norske Skog has signed an agreement with Bratsberg Gruppen and Conceptor, local
real estate developers, concluding vendor financing related to the disposal of
Klosterøya, the site of the former Union mill in Norway. Pending on buyer
financing this will bring cash proceeds amounting to NOK 100 mill. in February
2012. With this agreement around NOK 250 mill. of non-core disposals in second
half of 2011 have been settled as guided.
The previously announced sales process for conversion of Norske Skog Parenco
continues. Norske Skog is evaluating alternative use of the site. The production
of publication paper will be discontinued at the latest in 2013.
Oxenøen, 30 December 2011
For further information:
Media: Financial market:
Vice President Corporate Communication Vice President Investor Relations
Carsten Dybevig Tom Rogn
Mob: 917 63 117 Mob: 948 55 659
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norske Skog via Thomson Reuters ONE
[HUG#1574455]
Unternehmensinformation / Kurzprofil:
Datum: 30.12.2011 - 17:34 Uhr
Sprache: Deutsch
News-ID 100382
Anzahl Zeichen: 2301
contact information:
Town:
Lysaker
Kategorie:
Business News
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