By Paul A. Harris
Portland, Ore., May 30 – Norske Skog AS announced in a press release that it placed a €125 million issue three-year senior secured bonds with a coupon of three-month Euribor plus 600 basis points.
ABG Sundal Collier ASA and DNB Markets were the joint lead managers.
The deal met strong interest among investors, according to Sven Ombudstvedt, chairman and chief executive officer of Norske Skog.
The bonds were sold in order to improve the core business, convert relevant parts of the paper machines and diversify within the bioenergy, fibre and biochemical markets, Ombudstvedt said.
The issuer is a pulp and paper company based in Halden, Norway.
| Issuer: | Norske Skog AS
|
| Amount: | €125 million
|
| Maturity: | June 2022
|
| Securities: | Senior secured floating-rate bonds
|
| Joint lead managers: | ABG Sundal Collier and DNB Markets
|
| Coupon: | Three-month Euribor plus 600 bps
|
| Announcement date: | May 29
|
| Settlement date: | June 14
|
| Listing: | Oslo Stock Exchange (pending)
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