Wiersholm assists Norske Skogindustrier ASA

Wiersholm assists Norske Skogindustrier ASA (Norske Skog) in its EUR 250 million bond offering and an exchange offer and consent solicitation in respect of its existing notes.

Wiersholm assists Norske Skog in connection with the contemplated transaction announced by Norske Skog 22 January, 2015 whereby Norske Skog is launching two separate offers (i) an offering of EUR 250 million five-year Senior Secured Notes (SSN) to achieve a broader refinancing and debt extension of the group’s capital structure and (ii) an exchange offer in respect of its existing notes.

Norske Skog intends to use the net proceeds from the issuance primarily to facilitate a debt exchange for the existing bonds, which would extend maturities of all but its 2033 bonds. Existing bondholders would be offered a differentiated mix of cash and new unsecured notes depending on the underlying maturity dates of the existing notes.

In addition to the exchange offers, Norske Skog is seeking approval of certain amendments to each series of the Existing Notes.

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