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 quarters.
Norske Skog, Communications and Public Affairs
| For further information: | |
| Norske Skog media: Vice President Corporate Communication Carsten Dybevig Mob: +47 917 63 117 | Norske Skog financial market: Vice President Investor Relations Tom Rogn 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
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
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