Capital/Financing Update • Feb 10, 2021
Capital/Financing Update
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Norske Skog ASA: Fixed income investor calls
Norske Skog ASA (“Norske Skog”) has mandated DNB Markets and Pareto Securities as Joint Lead Managers to arrange a series of fixed income calls commencing on 11 February 2021. A EUR-denominated senior secured bond issue with five-year maturity may follow, subject to inter alia market conditions.
The net proceeds from the contemplated senior secured bond issue will inter alia be used to refinance Norske Skog’s outstanding bond maturing in June 2022 (“NSKOG01”). The refinancing is part of a group-wide capitalisation process to finance strategic investments into the growing and high-margin recycled containerboard market.
As part of the contemplated bond issue, Norske Skog may offer a conditional buyback of NSKOG01, which will be contingent upon subscription in the new bond. Subject to completion of the contemplated bond issue, Norske Skog will exercise the call option for the early redemption of NSKOG01.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Norske Skog:
Norske Skog is a world 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, of which two will produce recycled containerboard following planned conversion projects. In addition, the Group operates two publication paper mills and one pellet facility in Australasia. Norske Skog aims to further diversify its operations and continue its transformation into a growing and high-margin business through a range of promising fibre projects. The Group has approximately 2,300 employees in five countries, is headquartered in Norway and listed on the Oslo Stock Exchange under the ticker NSKOG.
For further queries, please contact:
Norske Skog media:
Vice President Corporate Communication and Public Affairs
Carsten Dybevig
Mob: +47 917 63 117
Norske Skog Investor Relations:
Investor Relations Manager
Even Lund
Mob: +47 906 12 919
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