Helsinki, Finland, 22 November 2011 -- Stora Enso has signed an extension of its existing EUR 700 million committed credit facility agreement with a syndicate of 16 banks announced on 14 December 2010. The extended facility matures in January 2015 and will be used as a backup for general corporate purposes. The terms of the facility, including pricing, remain unchanged, and the facility has no financial covenants.
Bookrunners and mandated lead arrangers for the transaction are BNP Paribas, Citi, Goldman Sachs International, Nordea, and The Royal Bank of Scotland PLC.
Mandated lead arrangers are Banc of America Securities Limited, Barclays Capital, Credit Agricole Corporate and Investment Bank, Deutsche Bank AG London Branch, DnB NOR Bank ASA, Handelsbanken, HSBC Bank plc, JP Morgan plc, Pohjola Bank plc, SEB, and UBS Investment Bank.
“Stora Enso has a strong balance sheet and very good liquidity, and that enables us to continue implementing our growth strategy. Extending our current revolving credit facility further strengthens our financial flexibility,” said Markus Rauramo, Stora chief financial officer.
Stora Enso is a global rethinker of packaging, paper, and wood products, offering its customers innovative solutions based on renewable materials. Stora Enso employs some 30,000 people worldwide; sales in 2010 amounted to EUR 10.3 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.