2013-03-13 09:20:51 -
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
Norske Skog, Communications and Public Affairs
For further information:
Norske Skog media:
Norske Skog financial market:
Vice President Corporate Communication Vice President Investor Relations
Carsten Dybevig Tom Rogn
Mob: +47 917 63 117 Mob: +47 948 55 659
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: Norske Skog via Thomson Reuters ONE