Arctic Paper agrees on new five-year financing
During the first quarter of 2021, Arctic Paper refinanced its paper operations. This means that previous bond loans and other credits are replaced with loans and credits totalling PLN 300mn from a consortium led by Santander.
- This is a long-term solution for Arctic Paper's financing that covers our needs for the next five years on market terms, says Michal Jarczyński, CEO, Arctic Paper S.A.
The agreement with the three banks Santander, BNP Paribas and Pekao includes a five-year loan of PLN 150mn at an interest rate of EURIBOR / WIBOR plus 1.8 percent, a five-year revolving credit facility of PLN 150mn at an interest rate of EURIBOR plus 1.6 percent and factoring of up to PLN 80mn.
For more detailed information about the terms: www.arcticpaper.com/en/Home/Investors1/
Further information provided by:
Michal Jarczynski, CEO, Arctic Paper S.A.
Phone +46 10 451 7005
michal.jarczynski@arcticpaper.com
Göran Eklund, CFO, Arctic Paper S.A.
Phone +46 10 451 7054
Arctic Paper S.A. is one of the leading producers of high-quality graphical fine paper in Europe and consists of three paper mills and four eco-friendly strong brands, Amber, Arctic, Munken and G. Most of the products are sold through the company’s sales offices in Europe. The Group is the main owner of the listed Swedish pulp producer Rottneros AB. Arctic Paper S.A. is listed on the Warsaw Stock Exchange and NASDAQ in Stockholm.
For more information visit, arcticpaper.com