Business News

Stora Enso successfully issues seven-year bond

Wednesday 30. September 2009 - Stora Enso has successfully issued a EUR 390 million seven-year bond under its EMTN (Euro Medium Term Note) programme. The seven-year maturity of the bond will lengthen Stora Enso's average debt maturity profile. The bond pays a floating coupon of Euribor + 4.21% and there are no financial covenants. Sole Lead Manager for the deal was SEK Securities.

“We decided to take advantage of improved market conditions and issued a bond at attractive levels to refinance our short-term maturities and enhance our maturity profile. The Group has a strong liquidity situation and many alternative sources of financing are available. We continue to manage our maturity profile proactively,” says Jyrki Tammivuori, SVP Group Treasurer.

Stora Enso has a revolving credit facility of EUR 1.4 billion maturing in May 2012 fully undrawn and without any financial covenants.