Norske Skog has signed a EUR 40 million loan agreement (securitisation facility) with Crédit Agricole Leasing & Factoring, based on accounts receivables derived from the French mill, Norske Skog Golbey SAS.
- We have now strengthened our long-term financing of the company through this agreement with Crédit Agricole Leasing & Factoring. As previously announced, we will continue to work on similar agreement for the Bruck mill, says Sven Ombudstvedt, President and CEO in Norske Skog.
Under the agreement with Crédit Agricole Leasing & Factoring Norske Skog will continue to collect the receivables from customers. The duration is minimum three years without financial covenants. The interest cost is competitive compared with similar financing.
As previously announced, Norske Skog Skogn AS and Norske Skog Saugbrugs AS, entered into a NOK 250 million loan agreement (securitisation facility) with SpareBank 1 Gruppen Finans AS in 2013.
Communications and Public Affairs
|For further information:|
| Norske Skog media: |
Vice President Corporate Communication
Mob: +47 917 63 117
| Norske Skog financial markets: |
Vice President Investor Relations
Mob: +47 948 55 659
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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Source: Norske Skog via GlobeNewswire