PM-Kymmene Corporation is proceeding with the plan to change its corporate structure in Finland to better match its current business structure. Three new subsidiaries have been established in Finland: UPM Energy Oy, UPM Paper Asia Oy and UPM Paper ENA Oy. The personnel and assets of UPM Energy, UPM Paper Asia and UPM Paper ENA (Europe and North America) in Finland are planned to be transferred to the new companies on 1 July 2016.
Verso Corporation (NYSE: VRS) is pleased to announce that as of September 10, 2018, it has paid in full its senior secured term loan facility. The original value of the term loan at its inception on July 15, 2016, was $220 million. The final payment of approximately $50 million plus accrued interest was paid from excess cash and available capacity from Verso’s asset-based revolving credit facility.