Stora Enso to issue new EUR 300 million bond

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Stora Enso has successfully issued a new EUR 300 million bond under its EMTN (Euro Medium Term Note) programme. The bond matures in March 2028 and pays a fixed coupon of 2.5%.

The issue price was 99.633, equivalent to a yield of 2.542% and Euro Mid-swaps +150 basis points. There are no financial covenants for the bond. The bond will be listed on the Luxembourg Stock Exchange.

The bookrunners for the transaction are Deutsche Bank, Goldman Sachs, and NatWest.

“Accelerated growth during the past four consecutive quarters while at the same time strengthening our balance sheet is yet another proof point of successful transformation, evidenced also by recent credit rating upgrades. Net debt to operational EBITDA has improved by 0.5 to 1.4 by the end of 2017. We will continue to manage our bond portfolio efficiently and proactively”, says Group Treasurer Martin Ros.

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