Norske Skog: Broad support from bondholders, extension required
Norske Skog has so far received support from a clear majority of both the secured and the unsecured noteholders for the proposed recapitalization solution. Norske Skog has now likely surpassed the thresholds required to implement the transaction by way of Schemes of Arrangement. However, the transaction is also contingent upon support from the majority holder of the EUR 100 million NSF and the 2115 Perpetual Notes. The consent solicitation deadline is extended until Friday 3 November at 17:00 CET to allow sufficient time to allow for further discussions with the holders of NSF and Perpetual Notes. Click Read More below for additional information.