Rottneros AB (publ) ("Rottneros" or the "Company"), which previously announced that the Company has engaged in a constructive and positive dialogue with its lenders, has now entered into an amendment and restatement agreement to the existing loan agreement which is better aligned with the Company's financial situation. Consequently, the condition for Arctic Paper S.A.'s ("Arctic Paper") subscription and guarantee commitment in respect of the Company's rights issue announced on 20 May 2025 has now been fulfilled.
On 20 May 2025, the Company announced the Board of Directors' resolution on a fully guaranteed rights issue with preferential right for existing shareholders of approximately 300 MSEK, before deduction of transaction costs (the "Rights Issue"), subject to approval by the Extraordinary General Meeting. The Company's largest shareholder, Arctic Paper, representing 51.0 percent of the total number of shares and votes in the Company, has undertaken to subscribe for its pro rata share in the Rights Issue and committed to underwrite the remaining part of the Rights Issue not covered by the subscription commitment. Arctic Paper's commitments are subject to the condition that the Company enters into an amendment and restatement agreement in relation to the existing loan agreement. This condition has now been fulfilled as the Company has entered into the amendment and restatement agreement, whereby the existing loan agreement will be amended in accordance with the terms set out therein.
The amended and restated loan agreement includes, among other things, a liquidity covenant and a profitability target replacing the current leverage covenant up to and including 30 September 2026. The amended and restated loan agreement will enter into force upon completion of the Rights Issue.
For more information, please contact:
Lennart Eberleh, President and CEO, Rottneros AB
+46 (0) 270 622 65, lennart.eberleh@rottneros.com
Monica Pasanen, CFO, Rottneros AB
+46 (0) 270 622 70, monica.pasanen@rottneros.com
Rottneros AB (publ)
Box 144, 826 23 Söderhamn
+46 (0)270 622 00
rottneros.com
info@rottneros.com
Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on Nasdaq Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB, with operations involving the production and sale of market pulp. The Group also includes Rottneros Packaging AB, a molded fiber solutions provider, the wood procurement company SIA Rottneros Baltic in Latvia, and the forestry operator Nykvist Skogs AB. The Group has approximately 285 employees and a turnover of approximately 2,7 billion SEK.
