Norske Skog has over the last few days made meaningful progress with the holders of the EUR 100 million NSF facility and the majority holder of the 2115 Perpetual Notes towards find a mutual acceptable solution where these financial instruments are included in the consensual recapitalization of the Norske Skog group. If a solution is achieved, Norske Skog will have received indicative support from the requisite majority of all relevant financial instruments in the Norske Skog capital structure. Due to the need to include a solution for the NSF facility and the Perpetual Notes in the overall recapitalization proposal, a new consent solicitation to the secured and unsecured noteholders will need to be launched. It is not anticipated that the updated consent solicitation will include any material changes to the terms set out in the current consent solicitation statement. As a new consent solicitation will have to be launched, the current consent solicitation will not be extended and will therefore expire on 3 November 2017 at 17:00 CET. Click Read More below for additional information.

Northern Pulp Nova Scotia announced that the British Columbia Supreme Court (the “Court”) has approved the requests made by Northern Pulp to, among other things, extend the protection under the Companies’ Creditors Arrangement Act (the “CCAA”) to October 31, 2021. The Court has also approved the amendment of the interim financing milestones under the interim financing facility to coincide with the Stay Extension and approved an additional draw of $6.0 million to meet obligations during the extended timeframe. Throughout the Stay Extension, Northern Pulp will continue to manage and maintain the mill and advance plans to transform its operations.

Back at high speed, the Hunkeler Innovation Days in Lucerne, Switzerland will be held from February 27 to March 2. Over the past three years, where the pandemic prevented this industry event from happening, high speed inkjet printing continued to evolve and will continue to do so according to the 2021 Smithers report “The Future of Print Equipment Markets to 2026”. For both types of high-speed presses – reel fed and sheet fed – the market is growing. In Europe, inkjet reel fed installations are expected to grow by around 50% between 2021 and 2026. Still, sheet fed inkjet installations top these figures as they are expected to grow by 126% in Western Europe and by 288% in Eastern Europe in the same period. Mondi Uncoated Fine Paper – part of the international packaging and paper group Mondi – developed the largest selection of high-speed inkjet papers in close collaboration with renowned OEMs (Original Equipment Manufacturers). The papers feature ideal gamut, reels as well as sheets in grammages ranging from 60 to 300 gsm and various surface treatments.