Norske Skog bonds jump as results herald deleveraging

01 Aug 2012

Bonds of Norske Skog jumped around five points higher on Thursday, after the Norwegian paper company gave news of its deleveraging, according to a banker.

The company’s net interest-bearing debt fell from Nkr7.1bn to Nkr6.9bn during the second quarter. This is mainly due to sales of assets such as the Follum industrial area in Hønefoss in Norway and a mill at Bio Bio in Chile.

Norske Skog has also managed to achieve higher cash ...

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