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Stora Enso successfully issues seven-year EUR 500 million Eurobond

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Issue date: 
February 29, 2012
Publisher Name: 
Timber Community
Author e-Mail: 
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Stora Enso successfully issues seven-year EUR 500 million Eurobond Stora Enso has today issued a EUR 500 million seven-year bond under its EMTN (Euro Medium Term Note) programme. The new bond pays a fixed coupon of 5.5% and will mature in March 2019. The issue price was 99.824, equivalent to a yield of 5.531% and Euro Mid-swaps + 362.5 basis points. There are no financial covenants in the bond.

We have a strong liquidity position and good access to various financing markets. We issued the bond and announced the tender offer for the Eurobond maturing in 2014 to take advantage of the good credit market conditions and extend our maturity profile,” says Jyrki Tammivuori, SVP, Group Treasurer.

Citigroup, Deutsche Bank, Goldman Sachs and SEB acted as Joint Bookrunners on the bond transaction and are acting as Dealer Managers on the tender offer. The new bond will be listed on the Luxembourg Stock Exchange. The proceeds of the offering will be used for general corporate purposes, including refinancing of the bond maturing in 2014.


Extpub | by Dr. Radut