Stora Enso issues seven-year Eurobond

Stora Enso is issuing a seven-year Eurobond under its EMTN (Euro Medium Term  Note) programme and announcing a tender offer for its EUR 750 million Eurobond maturing in 2014. The size of the seven-year bond issued is expected be EUR 500 million.

Stora Enso also announces a tender offer to repurchase a portion of the 2014 bond issued in 2004 and tapped in 2009 with nominal value EUR 750 million. The  intention is to repurchase an amount of the 2014 bond of up to the amount of new notes issued. The purchase price in the offer is equal to the interpolated mid-swaps rate + 130 basis points. The offer expires at 17.00 CET on 8 March 2012. The pricing of the offer will be determined on 9 March 2012 at or around 11.00 CET, and the settlement date is expected to be 13 March 2012.

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