Norske Skog announces successful placement of EUR 150 million of new senior secured bonds
Norske Skog ASA has successfully completed a EUR 150 million senior secured bond issue with maturity in March 2026. The new bonds will have a coupon of 3 months EURIBOR plus 550 bps. We are satisfied with the strong investor demand and to have secured new long-term financing for the group, allowing us to pursue our strategic growth initiatives, says Sven Ombudstvedt, CEO of Norske Skog. The net proceeds from the bond issue will inter alia be used to refinance Norske Skog’s outstanding bond maturing in June 2022 (“NSKOG01”). The refinancing is part of a group-wide capitalisation process to finance strategic investments into the growing and high-margin recycled containerboard market.