June 16, 2017 / 11:17 AM / a month ago

BRIEF-Nordicom updates on restructuring of Park Street Nordicom

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June 16 (Reuters) - NORDICOM A/S:

* ‍HAVE NOW RECEIVED FINALISED TERM SHEETS FOR REFINANCING AND RESTRUCTURING OF EXISTING FACILITIES INTO LONG TERM DEBT FROM ALL KEY FINANCIAL CREDITORS​

* ‍This Creditor Group Represents 81% of Existing Debt​

* ‍THERE REMAIN SOME UNCERTAINTIES WITH CREDITORS REPRESENTING 5% OF DEBT WHERE DISCUSSIONS ARE ONGOING AND WITH RESPECT TO FINAL INTERNAL CREDIT COMMITTEE APPROVALS OF KEY CREDITORS​

* AS STATED IN 2016 ANNUAL REPORT, 14% OF TOTAL FINANCIAL DEBT WAS RENEGOTIATED IN Q1 2017

* RESULT OF NEGOTIATIONS IS IN LINE WITH EBVAT EXPECTATIONS FOR 2017 OUTLINED IN 2016 ANNUAL REPORT AND EXPECTED TIMELINE FOR CONCLUDING RESTRUCTURING Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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