Lecta secures support for comprehensive recapitalization

According to its own statements, the manufacturer of fine papers and specialty papers concluded a binding agreement with its key financial creditors and shareholders at the beginning of January, thereby taking a key step toward the planned comprehensive recapitalization of the paper group.

With the financial restructuring supported by core creditors, Lecta intends to provide stable financing for the ongoing transformation and realignment of the group within the paper industry. The planned measure is expected to significantly ease the burden on the group's balance sheet. The plan is to reduce debt by around €400 million, which should bring pro forma net debt in relation to the group's earning power down to less than three times. Lecta also intends to strengthen the liquidity position of its paper mills.

Furthermore, the company is pursuing the goal of dividing the group into independently managed and financed business areas (fine papers, adhesive materials, specialty papers, distribution). Lecta took the first step in October with the spin-off of its adhesive materials and self-adhesive products business.