In reference to the current report no.9/2016 published on May 4th2016 and
current report no. 20/216 published on September 9th 2016 the management board
of Arctic Paper S.A. (the "Company") informs investors that on 25 October 2016
(the "Repayment Date") a subsidiary of the Company, Arctic Paper Kostrzyn S.A.
(the "Borrower"), repaid the indebtedness referred to below (jointly, the
"Indebtedness") under the facility agreement for a facility no higher that the
equivalent of PLN 359,000,000 (three hundred and fifty nine million zlotys)
dated 6 November 2012, as subsequently amended, amended and restated and most
recently amended by amendment agreement no. 7 dated 15 December 2015, entered
into between Bank Polska Kasa Opieki S.A. ("Pekao") as security agent and
lender, Bank Zachodni WBK S.A. ("BZ WBK") as lender and mBank S.A. ("mBank") as
lender, and the Borrower and Arctic Paper Mochenwangen GmbH and Arctic Paper
Investment GmbH as guarantors, and the Company as joint and several debtor with
the Borrower and as the obligors' agent, under which Pekao, BZ WBK and mBank
made available to the Borrower:
1. a multicurrency term loan facility (the "Term Loan Facility"); and
2. an overdraft facility (the "Overdraft Facility"),
on the terms set out in the Existing Facility Agreement, whereby:
a) in respect of EUR-denominated liabilities:
- the EUR Overdraft Facility repayment amount (BZ WBK) was EUR
4,223,436.17;
- the EUR Overdraft Facility repayment amount (mBank) was EUR
3,620,579.21; and
- the EUR Overdraft Facility repayment amount was EUR 4,899,480.76,
therefore, the total EUR repayment amount was EUR 12,743,496.14;
b) in respect of the PLN-denominated liabilities:
- the PLN Overdraft Facility repayment amount for BZ WBK was PLN
7,395,271.16;
- the PLN Overdraft Facility repayment amount for mBank was PLN
5,663,467.81;
- the PLN Overdraft Facility repayment amount for Pekao was PLN
8,335,519.76;
- the PLN Term Loan Facility repayment amount for BZ WBK was PLN
39,479,781.03;
- the PLN Term Loan Facility repayment amount for mBank was PLN
33,846,688.07; and
- the PLN Term Loan Facility repayment amount for Pekao was PLN
45,784,479.07,
therefore, the total PLN repayment amount was PLN 140,505,206.90.
The Company has reported about the conclusion of the above mentioned facility
agreement and its subsequent amendments in the current reports no 19/2012 of 6
November 2012, no. 44/2013 dated 20 December 2013 and no. 24/2014 dated 26
October 2014.
The Indebtedness was repaid in connection with a change to the structure of the
financing of the Company's Group. In current reports no. 9/2016 and no.20/2016
the Company has informed that centralised financing will enable more efficient
management of financial liquidity and flexible adjustment of the level of
financing of individual companies.
For additional information, please contact:
Per Skoglund, acting President of the Management Board of Arctic Paper, tel.
+46 733 21 70 09
This information is disclosed pursuant to Art. 17 sec. 1 of Regulation (EU)
No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on
market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the
European Parliament and of the Council and Commission Directives 2003/124/EC,
2003/125/EC and 2004/72/EC and was submitted for publication on 25 October 2016
at 8:00 pm CET, in reference to Arctic Paper’s current report no. 26/2016 filed
with the Warsaw Stock Exchange.
Repayment of indebtedness by Arctic Paper Kostrzyn S.A.
| Source: Arctic Paper AB