Brief: Nordicom updates on restructuring of Park Street Nordicom
16/06/2017 12:08
June 16 (Reuters) - NORDICOM A/S PSNRDCa.CO :
* HAVE NOW RECEIVED FINALISED TERM SHEETS FOR REFINANCING
AND RESTRUCTURING OF EXISTING FACILITIES INTO LONG TERM DEBT
FROM ALL KEY FINANCIAL CREDITORS
* THIS CREDITOR GROUP REPRESENTS 81% OF EXISTING DEBT
* THERE REMAIN SOME UNCERTAINTIES WITH CREDITORS
REPRESENTING 5% OF DEBT WHERE DISCUSSIONS ARE ONGOING AND WITH
RESPECT TO FINAL INTERNAL CREDIT COMMITTEE APPROVALS OF KEY
CREDITORS
* AS STATED IN 2016 ANNUAL REPORT, 14% OF TOTAL FINANCIAL
DEBT WAS RENEGOTIATED IN Q1 2017
* RESULT OF NEGOTIATIONS IS IN LINE WITH EBVAT EXPECTATIONS
FOR 2017 OUTLINED IN 2016 ANNUAL REPORT AND EXPECTED TIMELINE
FOR CONCLUDING RESTRUCTURING
Source text for Eikon: ID:nCSE6YzH
Further company coverage: PSNRDCa.CO
(Gdynia Newsroom)
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