Edition:
United Kingdom

Paper Products

Page 1

Norske Skogindustrier: final solution with creditor committees reached

Wednesday, 18 Oct 2017

Oct 18 (Reuters) - NORSKE SKOGINDUSTRIER ASA ::FINAL SOLUTION WITH CREDITOR COMMITTEES REACHED.‍FINAL SOLUTION WITH CREDITOR COMMITTEES REACHED​.‍MANAGED TO BROKER A SOLUTION BETWEEN UNSECURED COMMITTEE, SENIOR SECURED NOTEHOLDER COMMITTEE AND MAJOR SHAREHOLDER​.‍RESOLVED TO REVISE TERMS OF ONGOING CONSENT SOLICITATION IN ACCORDANCE WITH SPLIT AGREED​.‍FORMAL CONSENT SOLICITATION DEADLINE IS EXTENDED UNTIL WEDNESDAY 25 OCTOBER AT 17:00 CET​.

Norske Skogindustrier updates on outlook, recapitalization process

Monday, 4 Sep 2017

Sept 4 (Reuters) - NORSKE SKOGINDUSTRIER ASA ::IT IS DISCLOSED THAT MOST RECENT ESTIMATE FOR FULL YEAR 2017 GROSS OPERATING EARNINGS IS AROUND NOK 700 MILLION.NORSKE SKOGINDUSTRIER ASA - DOWNWARD ADJUSTMENT FROM EARLIER OUTLOOK STATEMENTS IS MAINLY DUE TO ADVERSE CURRENCY EFFECTS COMBINED WITH HIGHER ENERGY COST AND INCREASED EXPORTS TO LOWER-MARGIN ASIAN MARKETS.NEGATIVE CURRENCY EFFECTS ALONE REPRESENT A NEGATIVE ADJUSTMENT IN EXCESS OF NOK 50 MILLION.ENTERS INTO A LOAN AGREEMENT TO SUPPORT GROUP'S OPERATING BUSINESS THROUGHOUT RECAPITALIZATION PROCESS​.ENTERS INTO A LOAN AGREEMENT FOR A EUR 16 MILLION LIQUIDITY FACILITY WITH HOLDERS OF A MAJORITY OF SSN (EUR 290M, 2019)​.

Markets

  • Sectors
  • Europe
  • U.S.
  • Asia

Sector Summary