The key terms of the proposed recapitalization transaction are: - Issuance of a new senior secured EUR 250 million bond loan carrying 8.5 % interest with a 2022 maturity to the owners of the EUR 290 million bond loan and the EUR 100 million NSF-facility. The new bond loan will have the same collateral security as today's secured debt. The existing claims of the secured bond loan holders and NSF-lenders in excess of EUR 250 million, including accrued interest, will be converted to equity. - The conversion into equity of all outstanding unsecured bond debt amounting to approximately EUR 500 million including accrued interest. - After such conversions, the equity ownership of Norske Skogindustrier ASA will be split as follows: a. Secured note holders: 91.0 % b. Unsecured noteholders: 6.3 % c. Existing shareholders: 2.7 % - The board will propose an equity offering by Norske Skogindustrier ASA of up to approximately NOK 500 million with preferential rights for existing unsecured bondholders and shareholders, allocated by approximately NOK 300 million to the unsecured bondholders and approximately NOK 200 million to the shareholders. If fully subscribed, this will entail an increase in their ownership interest from 9 % to approximately 28 %. The subscription price will be set at a valuation of 6x the revised 2017 GOE guidance of EUR 75 million. - Warrants will be issued for up to 10 % of the equity in Norske Skogindustrier ASA to those who have subscribed to the above equity offering. The warrants entitle the holders to subscribe for shares if the sum of the group's average net debt and market value exceeds EUR 525 million in a consecutive period of 6 months prior to 30 June 2019. The subscription rights expire worthless on 30 June 2019 if not exercised. Click Read More below for additional detail.
Inspired by parents, Huggies® has introduced Huggies® Special Delivery™ diapers, the softest diaper with plant-based* materials, designed specifically to provide the best for a baby’s bottom, without compromise.
Huggies®Special Delivery™ was created for ultimate skin comfort with the trusted leak protection that parents count on to keep baby’s skin healthy.
“We are inspired by the loving bond that a parent feels with their baby and their desire to provide the very best care to their babies that they possibly can,” said Kristine Rhode, Huggies North America brand director. “These insights led us to create our most perfect diaper, so parents can provide their own perfect care.”
Huggies®Special Delivery™ diapers feature a baby-side liner and waistband made with fibers derived from plant-based* materials such as sugarcane, carefully selected to help provide superior absorption and fit. They are free of parabens, fragrance and elemental chlorine, and dermatologically tested and clinically proven hypoallergenic for baby’s delicate skin.
Each size option of Huggies®Special Delivery™ diapers features adorable designs that are driven by contemporary market trends while helping parents know when a diaper change is needed with our Huggies wetness indicator.
Featured in a stylish black box with the iconic Huggies logo, Huggies®Special Delivery™ diapers are now available online in sizes Newborn through Size 6, and at major U.S. retailers at the end of July, and Canadian retailers in August.