Norske Skog to get Eu140m RCF in bond refi

Norwegian paper producer Norske Skog is planning to raise a Eu140m revolving credit to rank alongside its Eu300m senior unsecured high yield bond, due to price on Monday (see credit news).

  • 03 Jun 2011

The revolver will mature in 2014 and is understood to contain a revised set of financial covenants to provide the company with greater headroom. Citi, DnB Nor, Nordea and SEB are arranging the financing.

Norske Skog’s debt/Ebitda ratio was 9.2 on March 31. However, high price rises for newsprint ...

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