Stora Enso announces early redemption of entire USD 421 million 2011 bond
STORA ENSO OYJ STOCK EXCHANGE RELEASE 5 November 2010 at 9.00 EET
Stora Enso will exercise its right to redeem all of the USD 421 million bond
maturing in May 2011 through a make whole process. The bond will be redeemed on
9 December 2010.
“The reason for the make whole is to manage cash efficiently and proactively.
Because of our strong liquidity, we are able to exercise our right to redeem the
entire bond five months prior the date on which it was due for repayment,” says
Stora Enso CFO Markus Rauramo.
For further information, please contact:
Jyrki Tammivuori, SVP, Group Treasurer, tel. +358 2046 21043
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242
Stora Enso is a global paper, packaging and wood products company producing
newsprint and book paper, magazine paper, fine paper, consumer board, industrial
packaging and wood products. The Group is the world leader in forest industry
sustainability. We offer our customers solutions based on renewable raw
materials. Our products provide a climate-friendly alternative to many
non-renewable materials, and have a smaller carbon footprint. Stora Enso is
listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso
employs some 27 000 people worldwide, and our sales in 2009 amounted to EUR 8.9
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.
STORA ENSO OYJ