STORA ENSO OYJ STOCK EXCHANGE RELEASE 23
April 2020 at 9.00 EEST
THIS ANNOUNCEMENT IS NOT BEING MADE IN, AND COPIES OF IT MAY NOT
BE DISTRIBUTED OR SENT INTO, THE UNITED
STATES, THE UNITED KINGDOM
OR JAPAN.
HELSINKI, April 23, 2020 /PRNewswire/ -- Stora Enso has
successfully issued a new SEK 1 700
million green bond under its EMTN (Euro Medium Term Note) programme
and under Stora Enso's Green Bond Frame work published in
May 2018. The bond has two tranches
as follows:
1) SEK 1 000 million matures in April 2025 and pays a floating coupon of STIBOR
+2.20%.
2) SEK 700 million matures in April
2025 and pays a fixed coupon of 2.375%. The issue price is
99.744 and is equal to SEK-swap +220 basis points.
There are no financial covenants for the bonds. The bonds will
be listed on the Luxembourg Stock Exchange.
The bookrunner for the transaction was Nordea.
Stora Enso had EUR 756 million
cash and cash equivalents at the end of Q1 2020. Additionally, the
Company has a fully undrawn EUR 600
million Revolving Credit Facility and access to EUR 950 million statutory pension premium loans
in Finland. Furthermore, during
April, Stora Enso has signed bilateral loan and credit facility
agreements for EUR 400 million to
increase liquidity.
"We're pleased with the transaction that further increases our
liquidity buffer during these uncertain times of Covid-19 crises.
Further we are pleased with issuance of our second green bond in
SEK market. This issuance fits our sustainable finance strategy
well. It's a good continuation for the SEK 6
billion green bond issued in 2019," says Group Treasurer
Pasi Kyckling.
For example, the proceeds from the new bond will finance the
acquisition of certified forestland in Sweden, an investment at Gruvön Mill which
produces cross-laminated timber (CLT) for high performance green
buildings, and an investment in a steam turbine at Maxau Mill that
enhances renewable energy production and reduces our CO2
emissions.
"This second successful green bond is further evidence that our
Sustainability Agenda underpins core business processes, such as
the raising of new finance to strengthen our position to lead the
shift to a sustainable bioeconomy," says Noel Morrin, EVP Sustainability.
For further information, please contact:
Carl Norell
SVP, Financial Communications and Media Relations
+46-72-2-410-349
Investor enquiries:
Ulla
Paajanen
SVP, Investor Relations
tel. +358-40-763 8767
Part of the bioeconomy, Stora Enso is a leading global provider
of renewable solutions in packaging, biomaterials, wooden
constructions and paper. We believe that everything that is made
from fossil-based materials today can be made from a tree tomorrow.
Stora Enso has some 25 000 employees in more than 30 countries. Our
sales in 2019 were EUR 10.1 billion.
Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and
Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded
in the USA as ADRs (SEOAY).
storaenso.com
STORA ENSO OYJ
IMPORTANT NOTICE
This announcement is not being made in and copies of it may not
be distributed or sent into the United
States, the United Kingdom
or Japan. The information
contained herein does not constitute an offer to sell or the
solicitation of an offer to buy the securities referred to herein.
There shall be no offer, solicitation or sale of the securities
referred to herein in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration,
exemption from registration or qualification under the securities
laws of any such jurisdiction.
The securities referred to herein may not be sold in
the United States absent
registration or an exemption from registration under the U.S.
Securities Act of 1933, as amended. Stora Enso Oyj does not intend
to register any of the securities in the
United States or to conduct a public offering of the
securities in the United
States.
This communication does not constitute an offer of the
securities to the public in the United
Kingdom. No prospectus has been or will be approved in the
United Kingdom in respect of the
securities. This communication is being distributed to and is
directed only at (i) persons who are outside the United Kingdom or (ii) persons who are
investment professionals within the meaning of Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Order") and (iii) high net worth entities, and other
persons to whom it may lawfully be communicated, falling within
Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "Relevant Persons"). Any investment activity
to which this communication relates will only be available to and
will only be engaged with, Relevant Persons. Any person who is not
a Relevant Person should not act or rely on this document or any of
its contents.
MiFID II professionals/ECPs-only - Manufacturer target market
(MIFID II product governance) is eligible counterparties and
professional clients only (all distribution channels).
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