Capital/Financing Update • Jun 12, 2024
Capital/Financing Update
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Norske Skog ASA announces fixed income investor calls and contemplated bond issue
Oslo, 12 June 2024: Norske Skog ASA (“Norske Skog” or the “Company”) has mandated DNB Markets and Pareto Securities AS as Joint Lead Managers to arrange a series of fixed income investor meetings commencing on 12 June 2024. A new 5-year senior unsecured bond issue of NOK 1 400 million may follow, subject to inter alia market conditions.
The net proceeds from the contemplated bond issue will be used to refinance the Company’s existing NSKOG02 EUR 150 million senior secured bonds (ISIN NO 0010936065) and for general corporate purposes.
In conjunction with the contemplated bond issue, Norske Skog will offer a conditional buyback of NSKOG02. Subject to completion of the contemplated bond issue, Norske Skog will call the remaining net outstanding amount of NSKOG02 in whole.
Norske Skog has obtained support from DNB for a NOK 500 million term loan at Norske Skog Skogn and a NOK 50 million overdraft facility at the Company level to replace its existing but undrawn EUR 31 million Revolving Credit Facility. These facilities are expected to be entered into during the third quarter of 2024.
About Norske Skog ASA
Norske Skog is a leading producer of publication paper with strong market positions and customer relations in Europe and Australasia. The Norske Skog group operates four mills in Europe, which produce publication paper, recycled packaging paper, energy and bioproducts. In addition, the Company operates one paper mill in Australia. Norske Skog aims to further diversify its operations and continue its transformation into a growing and high-margin business through a range of promising energy and bio product development projects. The Group has approximately 2 100 employees, is headquartered in Norway and listed on the Oslo Stock Exchange under the ticker NSKOG.
For further information:
Norske Skog media:
Vice President Communication and Public Affairs
Carsten Dybevig
Email: [email protected]
Mob: +47 917 63 117
Norske Skog capital markets:
Vice President Corporate Finance
Even Lund
Email: [email protected]
Mob: +47 906 12 919
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