Brief: Arctic Paper Starts Talks On EUR 20 Mln Additional Investment Loan

Arctic Paper SA

09/08/2023 16:42

Aug 9 (Reuters) - Arctic Paper SA  ATC.WA :
    * RESOLVES TO START TALKS ON CHANGING DEAL FOR TERM LOANS
AND
REVOLVING LOANS SIGNED ON APRIL 2, 2021
    * SAID DEAL SIGNED BETWEEN COMPANY, ITS UNITS AND CONSORTIUM
OF
BANKS CONSISTING OF PEKAO, BNP PARIBAS BP, AND SANTANDER BP
    * UNDER CHANGED DEAL LENDERS TO PROVIDE COMPANY WITH
ADDITIONAL
LOAN FOR FINANCING OF CONSTRUCTION OF INSTALLATION FOR BIOMASS
DRYING AND PELLET PRODUCTION
    * TOTAL AMOUT OF ADDITIONAL LOAN WOULD EQUAL EUR 20 MILLION
    * SAID LOAN'S FINANCING PERIOD TO LAST FOR SEVEN YEARS FROM
CHANGED DEAL'S CONCLUSION DATE
    * SAID INSTALLATION TO BE LOCATED IN GRYCKSBO ON REAL ESTATE
BELONGING TO ARCTIC PAPER GRYCKSBO
    * SEES SAID INVESTMENT TO GENERATE YEARLY REVENUE FROM SALE
OF
PELLET OF ABOUT SEK 100 MILLION
    * TOTAL COST OF INVESTMENT TO AMOUNT TO ABOUT EUR 28.5
MILLION
    * SAID INVESTMENT COMPLETION PLANNED FOR H1, 2025
    * COMPANY TO SPEND ABOUT EUR 8.5 MILLION OF OWN FUNDS ON
SAID
INVESTMENT

Source text for Eikon:  ID:nEM3KGTka 
Further company coverage:  ATC.WA 

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