Stora Enso repurchased notes from 2018 and 2019 bonds

Stora Enso has successfully repurchased notes with a nominal value of EUR 83 million from the 2018 bond, and of EUR 216 million from the 2019 bond, issued in 2012. The repurchase followed the company’s  bond and tender release issued on May 31, 2017

The transaction for the 2018 bond is priced at a yield of -0.25% and the 2019 bond is priced at a yield of -0.15%. The settlement date will be 9 June 2017.

The negative impact on net financial items in Stora Enso’s second quarter 2017 results will be EUR 26 million. The bookrunners for the transaction were Citibank, SEB, and Barclays.

In 1Q2017 Stora Enso reported 2.1% increase of sales.

Earlier Stora Enso started supplies LVL from its new mill in Finland to the US, the UK and France.

About Stora Enso:

The company is the global company operating in segments of the paper, biomaterials, wood products and packaging industry. The company has annual production capacity of 5.4 million tonnes of chemical pulp, 11.7 million tonnes of paper and board, 1.3 billion square metres of corrugated packaging and 5.6 million cubic metres of sawn wood products, including 2.9 million cubic metres of value-added products. Its sales in 2015 totaled EUR 10 billion.The Group has some 26 000 employees in more than 35 countries worldwide. It is a publicly traded company listed in Helsinki and Stockholm.

Source: Woodbizforum