qquebec
Super Moderator
Difficoltà per Norske
Il bond è stato prezzato a 95,49% con un tasso d'interesse dell'11,75% fino al 2016. E' del tutto evidente che hanno bisogno di cash a qualsiasi prezzo per rimborsare l'emissione in USD da 600 mln in scadenza a Ottobre.
The bonds are issued at 95.491% of par value, and with a fixed coupon rate of 11.75%. Norske Skog intends to use the proceeds of the offering to repay the near term portion of its existing indebtedness and thereby increase the average time to maturity. The group's future net interest costs are expected to remain at current levels. There is currently a difficult bond market due to today's macro conditions. This results in financing being expensive, and we choose therefore only to raise EUR 150 million. We now have sufficient funds through cash on hand, previous asset sales and new financing to cover the loan maturities in 2011 and 2012. Following this offering and the repayment of our debt maturing in 2011 and 2012, our primary long-term debt maturities will be in 2016 and thereafter, says CEO of Norske Skog Sven Ombudstvedt.
Il bond è stato prezzato a 95,49% con un tasso d'interesse dell'11,75% fino al 2016. E' del tutto evidente che hanno bisogno di cash a qualsiasi prezzo per rimborsare l'emissione in USD da 600 mln in scadenza a Ottobre.
The bonds are issued at 95.491% of par value, and with a fixed coupon rate of 11.75%. Norske Skog intends to use the proceeds of the offering to repay the near term portion of its existing indebtedness and thereby increase the average time to maturity. The group's future net interest costs are expected to remain at current levels. There is currently a difficult bond market due to today's macro conditions. This results in financing being expensive, and we choose therefore only to raise EUR 150 million. We now have sufficient funds through cash on hand, previous asset sales and new financing to cover the loan maturities in 2011 and 2012. Following this offering and the repayment of our debt maturing in 2011 and 2012, our primary long-term debt maturities will be in 2016 and thereafter, says CEO of Norske Skog Sven Ombudstvedt.
