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Dato/tid 12.09.2017 16:58
Utsteder Norske Skogindustrier ASA
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Tittel Norske Skog: senior secured note holder acceleration
Tekst
Citibank, N.A., London Branch ("Citibank"), in capacity as 
trustee under the indenture for the EUR 290 million senior 
secured notes due 2019 issued by Norske Skog AS ("SSN"), has 
today declared all monetary obligations under the SSN due and 
payable immediately (the "Acceleration"). 

Furthermore, Citibank, in capacity as security agent for the 
holders of the SSNs, has today notified Norske Skog Holding AS 
and Norske Skog AS that, in accordance with the rights 
following the Acceleration, new boards of directors consisting 
of Sven Ombudstvedt (chairman), Nils Ingemund Hoff and Rune 
Sollie have been elected for each of Norske Skog Holding AS 
and Norske Skog AS. 

The board of directors of Norske Skogindustrier ASA will 
assess the notices received and continue the work towards a 
recapitalization of the Norske Skog group.

This information is not for distribution in the United States 
and is subject of the disclosure requirements pursuant to 
Section 5-12 of the Norwegian Securities Trading Act.

Norske Skog
Communications and Public Affairs

For further information:
Lars P. Sperre
President & CEO
E-mail: lars.sperre@norskeskog.com


This press release may include projections and other "forward-
looking" statements within the meaning of applicable 
securities laws. Any such projections or statements reflect 
the current views of Norske Skogindustrier ASA or its 
subsidiaries ("Norske Skog") about further events and 
financial performance. Although Norske Skog believes that 
these views and assumptions are reasonable, the statements are 
subject to numerous factors, risks and uncertainties that 
could cause actual outcomes and results to be materially 
different from those projected. No assurances can be given 
that such events or performance will occur as projected and 
actual results may differ materially from these projections.

This press release shall not constitute an offer to sell or a 
solicitation of an offer to purchase any securities in the 
Unites States, and shall not constitute an offer, solicitation 
or sale in any state or jurisdiction in which such an offer, 
solicitation or sale would be unlawful. The securities have 
not been and will not be registered under the Securities Act 
of 1933 (the "Securities Act").  The securities may not be 
offered or sold in the United States absent registration under 
the Securities Act or an applicable exemption from 
registration requirements. Any public offering of securities 
to be made in the United States will be made by means of a 
prospectus that may be obtained from the issuer and that will 
contain detailed information about the company and management, 
as well as financial statements. This press release is being 
issued pursuant to and in accordance with Rule 135e under the 
Securities Act.

In member states of the European Economic Area, this press 
release (and any offer of the securities referred to herein if 
made subsequently) is only addressed to and directed at 
persons who are "qualified investors" within the meaning of 
Article 2(1)(e) of the Prospectus Directive.

This press release is directed only at (i) persons who are 
outside the United Kingdom or (ii) persons who have 
professional experience in matters relating to investments 
falling within Article 19(5) of the Financial Services and 
Markets Act 2000 (Financial Promotion) Order 2005 (the 
"Order") or (iii) high net worth entities, and other persons 
to whom it may lawfully be communicated, falling within 
Article 49(2) of the Order or (iv) persons to whom an 
invitation or inducement to engage in investment activity 
(within the meaning of Section 21 of the Financial Services 
and Markets Act 2000 (the "FSMA")) in connection with the 
issue or sale of any notes may otherwise be lawfully 
communicated or caused to be communicated (all such persons 
together being referred to as "relevant persons"). Any 
investment activity to which this communication relates will 
only be available to and will only be engaged with, relevant 
persons. Any person who is not a relevant person should not 
act or rely on this document or any of its contents.

This press release does not constitute an offer to sell or buy 
or the solicitation of an offer to sell or buy the existing 
bonds  and/or the new unsecured notes, as applicable (and 
offers of existing bonds for exchange pursuant to the offers 
will not be accepted from holders), in any circumstances in 
which such offer or solicitation is unlawful.

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