Borregaard: Loan agreement for LignoTech Florida
12 June 2017 - 10:28PM
LignoTech Florida LLC has entered into a USD 60
million loan agreement with Skandinaviska Enskilda Banken (SEB).
The loan facility is guaranteed 70% by the Norwegian Export Credit
Guarantee Agency (GIEK) and has a tenor of eight and a half years
from project completion. The owners, Borregaard (55%) and Rayonier
Advanced Materials (45%), will guarantee the loan facility on a pro
rata basis until 12 months after project completion. The purpose of
the loan is to finance completion of the USD 110 million greenfield
lignin operation in Florida scheduled to be commissioned mid-2018.
In addition, a working capital facility will be established.
For more information about the project in Florida,
see stock exchange notices of 9 December and 28 June 2016, and also
17 December and 1 June 2015.
Sarpsborg, 12 June 2017
Contacts:
Per Bjarne Lyngstad, CFO +47 952 44 515
Jørn Syvertsen, Director Investor Relations +47 958 36 335
This information is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities
Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Borregaard via Globenewswire
Bluerock Residential Gro... (AMEX:BRG)
Historical Stock Chart
From Apr 2024 to May 2024
Bluerock Residential Gro... (AMEX:BRG)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Bluerock Residential Growth REIT Inc (American Stock Exchange): 0 recent articles
More Borregaard News Articles