Norske Skog has extended the maturities on a significant portion of its indebtedness, with new notes maturing in 2019, 2021 and 2023. The new EUR 290 million SSN mature in December 2019 and will be structurally senior to all remaining existing notes and notes issued in the exchange offer. The exchange notes will be structurally junior to the SSN, but structurally senior to remaining existing notes and mature in 2021 and 2023. The remaining existing notes will be structurally junior to the SSN and exchange notes. For further information on the exchange offers outcome, please see the separate announcement related to the Exchanges Offers and Consent Solicitations released today. More than 75% of the existing bond holders consented to the transactions, and approximately 45% of the existing bonds participated in the exchange offer. Immediate de-leveraging of around NOK 500 million was realized in the refinancing. This leads to a significant improvement in the group's total liquidity, despite a short-term increase in the cost of borrowings. The final settlement of the transactions is scheduled for 24 February 2015.
Kathy Buckman Gibson was recognized as Woman of the Year by the Technical Association of the Pulp and Paper Industry’s (TAPPI’s) Women in Industry Division at its recent annual PaperCon conference.
Buckman Gibson is a TAPPI Fellow and received the association’s Herman L. Joachim Distinguished Service Award in 2007. She has served as a Trustee of the TAPPI Foundation and is a past Board Member of TAPPI, PIMA (Paper Industry Management Association), and the Center for Paper Business Industry Studies (CPBIS). She also served on the Board of the Pulp and Paper Foundation of North Carolina State University.
Buckman Gibson is an owner and Director of Buckman. She has been involved with the pulp and paper industry for more than 25 years while working at Buckman in various capacities including Chief Operating Officer, General Counsel and Chairman of the Board.
Currently Buckman Gibson is CEO and President of KBG Technologies, LLC, a joint venture between herself and Buckman established in 2018. KBG Technologies is a certified woman-owned business providing chemistries and smart technologies to the pulp and paper industry and water treatment market.
Buckman Gibson currently focuses her community efforts on expanding early childhood education and Pre-K in Memphis and Shelby County, Tennessee. She has also served in various leadership roles for National Girls Incorporated, United Way of the Mid-South, Mid-South Reading Alliance, the Women’s Foundation for a Greater Memphis, the National Civil Rights Museum and more.