Apr 16, 2014. /Lesprom Network/. Norske Skog has signed a Euro 40 million loan agreement (securitisation facility) with Crédit Agricole Leasing & Factoring, based on accounts receivables derived from the French mill, Norske Skog Golbey SAS, as the company said in the press release received by Lesprom Network.

“We have now strengthened our long-term financing of the company through this agreement with Crédit Agricole Leasing & Factoring. As previously announced, we will continue to work on similar agreement for the Bruck mill,” says Sven Ombudstvedt, President and CEO in Norske Skog.

Under the agreement with Crédit Agricole Leasing & Factoring Norske Skog will continue to collect the receivables from customers. The duration is minimum three years without financial covenants. The interest cost is competitive compared with similar financing.