Jun 07, 2011. /Lesprom Network/. Norske Skog expects to price a Euro denominated bond offering of Euro 150 million with a maturity of 5 years at 09.30 CET Tuesday, 7 June. Norske Skog intends to use the proceeds of the offering to repay the near term portion of its existing indebtedness and thereby increase the average time to maturity. The group's future net interest costs are expected to remain at current levels, as Norske Skog said in a press release received by Lesprom Network. "There is currently a difficult bond market due to today's macro conditions. This results in financing being expensive, and we choose therefore only to raise Euro 150 million. We now have sufficient funds through cash on hand, previous asset sales and new financing to cover the loan maturities in 2011 and 2012," says CEO of Norske Skog Sven Ombudstvedt. Following this offering and the repayment of debt maturing in 2011 and 2012, primary long-term debt maturities will be in 2016 and thereafter. The company also believes it has access to sufficient sources of alternative financing should this be necessary. Due to the particular circumstances surrounding the company's stock trading on the 6 June, Norske Skog reiterates that there are no plans for an equity issuance connected to this refinancing. The company is not aware of any reason for any unusual trading in its shares.