Norske Skog update on financing and auditor process
(Thomson Reuters ONE) -
Update on financing
In accordance with the 18 March 2016 stock exchange disclosure regarding the
financial support agreement with GSO and Cyrus, Norske Skog has successfully
implemented a EUR 20 million transaction financing the sales process of the
Tasman geothermal power plant, and in addition, raised a EUR 10 million loan
from GSO and Cyrus. The initiative to free up trapped cash of up to EUR 10
million is still ongoing.
- Today's repayment of the June 2016 bond maturity ends a 7 months challenging
journey for Norske Skog. In this period, we have succeeded in protecting value
for all stakeholders by realizing de-leveraging, improving book equity by more
than NOK 1 billion, reducing the cash interest level by more than NOK 100
million per year and extending debt maturities by 6 years, said Mr. Sven
Ombudstvedt, President and CEO of Norske Skog.
Auditor process
The Norwegian register of Business Enterprises (Foretaksregisteret) has extended
the four weeks period for registration of new auditor for the company. The
extended period for registration of a new auditor ends 10 August 2016.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Oslo, 15 June 2016
Norske Skog
Communications and Public Affairs
For further information:
Norske Skog media: Norske Skog financial markets:
Vice President Corporate Communication Vice President Investor Relations
Carsten Dybevig Tom Rogn
Mob: +47 917 63 117 Mob: +47 948 55 659
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norske Skog via GlobeNewswire
[HUG#2020971]
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Datum: 15.06.2016 - 17:30 Uhr
Sprache: Deutsch
News-ID 477970
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