Stora Enso Announces Exchange Offer Pricing
STORA ENSO OYJ Stock Exchange Release 6 April 2006 at 17.45
Stora Enso Announces Exchange Offer Pricing
Stora Enso Oyj announced today the pricing terms for its
exchange offer for its 7.375% Notes Due 2011 (CUSIP No.
86210MAA4; ISIN No. US86210MAA45) (the old notes).
The total exchange price to be paid for old notes validly
tendered and not withdrawn by the early participation date is
USD 1 067.07 per USD 1 000 principal amount of old notes.
Holders of old notes who tender after the early participation
date will receive the total exchange price less the early
participation payment, or USD 1 057.07 per USD 1 000 principal
amount of old notes. The total exchange price for the old notes
was determined using the bid-side yield on the 4.5% US Treasury
Note due 28 February, 2011 as of 10:00 a.m., New York City time,
on 6 April, 2006 (the pricing time), which was 4.831%, plus
1.00%, resulting in an exchange offer yield of 5.831%. In
addition, holders of notes accepted in the exchange will receive
accrued and unpaid interest up to but not including the
settlement date.
The new notes will bear interest at a fixed rate per annum of
6.404% from the settlement date to 15 April, 2016. The fixed
interest rate was determined using the bid-side yield on the
4.5% US Treasury Note due 15 February, 2016 as of the pricing
time, which was 4.874%, plus 1.53%.
The exchange offer will expire at midnight, New York City time,
on 10 April, 2006, unless extended, and the settlement date for
the exchange offer is expected to be 13 April, 2006.
The exchange offer is based on and subject to the conditions in
the Exchange Offering Memorandum, dated 14 March 2006. The new
notes, any additional notes and any longer dated notes have not
been and will not be registered with the US Securities and
Exchange Commission under the US Securities Act of 1933, as
amended (the Securities Act), and may not be offered or sold
in the United States or to, or for the account or benefit of,
U.S. persons absent registration or an applicable exemption from
the registration requirements of the Securities Act. This offer
is not being made in Italy and other restrictions apply
including in Belgium, France, Germany and the UK. See the
Exchange Offer Memorandum dated 14 March 2006 for details.
Additional information concerning the exchange offer and copies
of the Exchange Offering Memorandum and related documents may be
obtained by contacting Global Bondholder Services Corporation,
the information agent, tel. +1 866 488 1500.
For further information, please contact:
Markus Rauramo, Senior Vice President, Group Treasurer, tel.
+44 20 7016 3250
Peter Nordquist, Vice President, Funding, tel. +44 20 7016 3266
www.storaenso.com
www.storaenso.com/debt
STORA ENSO OYJ
p.p. Jussi Siitonen Jukka Marttila