Business News

Stora Enso successfully completes tap of two five-year SEK bonds

Thursday 25. November 2010 - Stora Enso has today successfully tapped its two five-year bonds due in September 2015. Both bonds are issued under Stora Enso's EMTN (Euro Medium Term Note) programme.

The SEK 1 300 million 5.75% fixed coupon bond was tapped with SEK 1 100 million
of new notes issued with a 5.45 % yield at a price of 101.200. The settlement
date of the transaction is 29 November 2010. Following the tap, a total of SEK 2
400 million of the bond is outstanding.
The SEK 1 000 million bond that pays a floating coupon of three-month Stibor
plus 3.7% was tapped with SEK 400 million of new notes issued with a Stibor +
2.75% at a price of 104.107. The settlement date of the transaction is 1
December 2010. Following the tap, a total of SEK 1 400 million of the bond is
outstanding.
Sole arranger and bookrunner for these transactions was Skandinaviska Enskilda
Banken AB (SEB).
“The tapping follows the two bonds issued on 24 August 2010. Those bonds have
performed well and we felt there was additional demand for our bonds. We
therefore decided to take advantage of good market conditions and tap the bonds
at attractive levels. The Group has strong liquidity and we continue to manage
our short-term maturities and maturity profile proactively,” says Jyrki
Tammivuori, SVP, Group Treasurer.