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:

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Friday, 2 Apr, 2021