Norske Skogindustrier ASA

Mar 21, 2016, 10:13 AM by User Not Found
GSO Capital Partners (“GSO”) is pleased to have reached terms with Norske Skogindustrier ASA (the “Company” or “Norske Skog”) for a deleveraging and liquidity injection that, we believe, will give management greater flexibility to execute its business plan to benefit from the cyclical upswing in paper prices.
March 21, 2016. London. GSO Capital Partners (“GSO”) is pleased to have reached terms with Norske Skogindustrier ASA (the “Company” or “Norske Skog”) for a deleveraging and liquidity injection that, we believe, will give management greater flexibility to execute its business plan to benefit from the cyclical upswing in paper prices. 

As a result of the transactions, GSO will have a large minority equity interest in a substantially strengthened group with a favourable operational outlook.  By ensuring that Norske Skog continues as a stronger business, we believe these transactions will preserve existing jobs and that they are in the best long-term interests of stakeholders.  GSO intends to work closely with management to allow Norske Skog to play an active role in industry consolidation.

For further information:
Andrew Dowler
GSO/Blackstone
+44 (0)20 7451 4275

GSO
GSO Capital Partners LP is the global credit investment platform of Blackstone.  With approximately $79 billion of assets under management, GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace.  GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies.  Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies.