Bli medlem
Bli medlem

Du är här

2016-05-04

Arctic Paper: Plans to obtain financing through a contemplated bond issue or facilities agreement

The Management Board of Arctic Paper S.A. with its registered office
in Pozna? (the "Company") informs that on 4 May 2016 decided to
formally commence work in connection with the refinancing of the
Company's and its subsidiaries' existing indebtedness arising under
credit facility and loan agreements concluded thereby and obtaining
alternative financing (the "Financing") being considered by the
Company. The main aim of the actions of the Company's Management
Board is changing the structure of financing of the Company's capital
group and, in particular, its centralization facilitating more
effective liquidity management and flexible adjustment of the level
of financing of the individual companies.

The Financing being considered envisages the procurement of funds
through:

· an issue or issues of bonds denominated in PLN, which the Company
would issue under the bonds issue programme for up to PLN 150,000,000
(the "Bonds Issue Programme"); and/or

· senior term and revolving facilities for up to EUR 85,700,000 and
PLN 47,000,000, which would be granted to the Company by a group of
banks and/or credit institutions (the "Facilities"),

whereas the funds under the Financing being considered will be
procured either jointly under the Bonds Issue Programme and
Facilities (in such case the amount of the Facilities will be reduced
accordingly by the value of the bonds issued simultaneously with the
procurement of funds under the Facilities under the Bonds Issue
Programme) or exclusively through the Facilities.

If the Financing is obtained, it will be necessary to establish
appropriate security and conclude additional agreements. The
Management Board of the Company is considering the possibility of
security that is in line with market practice in similar
transactions, in particular a registered pledge or registered pledges
over a collection of moveables and property rights constituting the
Company's enterprise or an organized part thereof (the "Pledge").

In light of the foregoing, the Management Board of the Company will be
taking steps to convene an Ordinary Shareholders' Meeting, which is
necessary so that the Pledge can be established.

The above-mentioned decision of the Management Board of the Company is
a preliminary decision and may change. In particular, the Management
Board of the Company may decide not to take some or all the steps
mentioned above. Additionally, the Management Board of the Company
informs that it is in talks with banks and/or credit institutions
with regard to their participation in the Financing, but at present
no binding decision in the matter has been made.

For additional information, please contact:

Per Skoglund, acting President of the Management Board of Arctic
Paper, tel. +46 733 21 70 09

This information is disclosed pursuant to the Article 56 section 1
item 1 of the Act of 29 July 2005 on Public Offering, Conditions
Governing the Introduction of Financial Instruments to Organised
Trading, and Public Companies and was submitted for publication on
4th May 2016 at 6:00 pm CET, in reference to Arctic Paper's current
report no. 9/2016 filed with the Warsaw Stock Exchange.

-----------------------------------------------------------
http://feed.ne.cision.com/client/waymaker1/WOLReleaseFile.aspx?id=350910...

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.