Friday, 15 June 2012 12:15

Stora Enso successfully issues two five-year bonds

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Stora Enso has successfully issued two five-year bonds with total nominal value SEK 1 700 million under its EMTN (Euro Medium Term Note) programme. Both bonds are due on 26 June 2017. One SEK 1 350 million bond pays a floating coupon of three months Stibor + 390 basis points and has an issue/reoffer price of 100.000. The other SEK 350 million bond pays a fixed coupon of 5.75% and has an issue/reoffer price of 99.010 to give a spread of 390 basis points over five-year mid swap which equals the yield of 5.985%. The bonds have no financial or change of control covenants. The arrangers and bookrunners for the transaction were SEB and Nordea.

“With these new bonds Stora Enso continues proactive actions to maintain its liquidity at a strong level. Our funding sources are well diversified and the maturity profile is well balanced. We last issued Swedish krona bonds in 2010, and we have now decided to benefit from the current strong demand from Swedish investors,” says Jyrki Tammivuori, SVP, Group Treasurer.

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