Metsä Board Corporation has signed an agreement on the refinancing of its EUR 500 million bond maturing 1 April 2013

Metsä Board Corporation Stock Exchange Release 3 May 2012 at 9.00 EET

Metsä Board Corporation, a part of Metsä Group, has signed a new term loan and revolving credit facility agreement totalling EUR 600 million. The facility will be utilized to refinance the EUR 500 million bond maturing 1 April 2013 and it enhances Metsä Board’s liquidity position further.

The facilities consist of EUR 100 million revolving credit facility that is available for drawdown immediately and in total of EUR 500 million term loans, which are available for drawdown as of late March 2013. The revolving credit facility has a maturity of three years, while EUR 150 million (bridge financing) part of the term loans matures on 30 June 2014 and EUR 350 million part on 31 March 2016. The facilities are unsecured until the utilization of the term loans.

The average financing cost of the facilities calculated for the entire loan period, including all related fees, is approximately 6.5 per cent per annum.

Lenders are Danske Bank A/S, Helsinki Branch, Nordea, Pohjola Bank plc., Skandinaviska Enskilda Banken AB (publ), Swedbank Ab and certain Finnish institutional investors.

Nordea acted as the coordinating bookrunner and the agent in the facilities.

METSÄ BOARD CORPORATION

Further information: 
Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, VP, Investor Relations and Communications, tel. +358 10 465 4335