Solenis to Increase Prices Across All Product Lines in the Americas

Domtar Corporation announced it has signed an agreement with Voith to provide equipment and technical services to convert the paper machine at its Kingsport, Tennessee, mill to produce recycled containerboard including high-performance lightweight packaging grades, as well as industry standard grades. In addition to being a full-line supplier to the paper industry, Voith is also recognized as a leader in the containerboard machinery business. The company will play an important part in Domtar's entry into the containerboard market by helping build one of the most modern recycled containerboard machines in the world, able to set industry benchmarks in recycled containerboard strength and convertibility.

Sappi Limited, a leading producer of dissolving pulp sold under the brand name Verve, is pleased to announce that it has completed a self-assessment of the Higg Facility Social and Labour Module (FSLM) at its Ngodwana and Saiccor Mills in South Africa. The self-assessment results were very positive and highlight Sappi’s commitment to maintaining a high level of social and labour practices. Ngodwana and Saiccor Mills produce dissolving pulp under the Verve brand, which is used primarily in the textile and hygiene product industries. Developed by the Sustainable Apparel Coalition, the Higg FSLM is part of a suite of tools that enables manufacturing facilities within the textile value chains to measure themselves against a standard set of criteria in the areas of recruitment and hiring, working hours, wages and benefits, worker treatment, worker involvement, health and safety, termination and management systems.

The key terms of the proposed recapitalization transaction are: - Issuance of a new senior secured EUR 250 million bond loan carrying 8.5 % interest with a 2022 maturity to the owners of the EUR 290 million bond loan and the EUR 100 million NSF-facility. The new bond loan will have the same collateral security as today's secured debt. The existing claims of the secured bond loan holders and NSF-lenders in excess of EUR 250 million, including accrued interest, will be converted to equity. - The conversion into equity of all outstanding unsecured bond debt amounting to approximately EUR 500 million including accrued interest. - After such conversions, the equity ownership of Norske Skogindustrier ASA will be split as follows: a. Secured note holders: 91.0 % b. Unsecured noteholders: 6.3 % c. Existing shareholders: 2.7 % - The board will propose an equity offering by Norske Skogindustrier ASA of up to approximately NOK 500 million with preferential rights for existing unsecured bondholders and shareholders, allocated by approximately NOK 300 million to the unsecured bondholders and approximately NOK 200 million to the shareholders. If fully subscribed, this will entail an increase in their ownership interest from 9 % to approximately 28 %. The subscription price will be set at a valuation of 6x the revised 2017 GOE guidance of EUR 75 million. - Warrants will be issued for up to 10 % of the equity in Norske Skogindustrier ASA to those who have subscribed to the above equity offering. The warrants entitle the holders to subscribe for shares if the sum of the group's average net debt and market value exceeds EUR 525 million in a consecutive period of 6 months prior to 30 June 2019. The subscription rights expire worthless on 30 June 2019 if not exercised. Click Read More below for additional detail.