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Stora Enso
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Helsinki, Finland, 29 February 2012 -- Stora Enso has today issued a EUR 500 million seven-year bond under its euro medium-term note (EMTN) program. 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,” said Jyrki Tammivuori, senior vice president, 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.

Stora Enso is the global supplier of biomaterials, paper, packaging, and wood products industry. The company offers its customers innovative solutions based on renewable materials. Stora Enso employs some 30,000 people worldwide, and sales in 2011 amounted to EUR 11.0 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.


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