Stora Enso issues EUR 1 billion of new green bonds

STORA ENSO OYJ STOCK EXCHANGE RELEASE 25 May 2023 at 09:00 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.

Stora Enso has successfully issued two new EUR 500 million green bonds under its EMTN (Euro Medium Term Note) programme. The bonds have 3 and 6.25 year maturities and pay a fixed coupon of 4.00% and 4.25% respectively. The bonds are issued under Stora Enso’s new combined Green and Sustainability-Linked Financing Framework launched in May 2023. The issue price for the 3 year bond was 99.928 equivalent to a yield of 4.026% and Euro Mid-Swaps +65 basis points and for the 6.25 year bond 99.64 equivalent to a yield of 4.32% and Euro Mid-Swaps +120 basis points.

There are no financial covenants included in the bond documentation. The bonds will be listed on the Luxembourg Stock Exchange. The joint lead managers and bookrunners for the transaction are BNP Paribas, Crédit Agricole CIB, Danske Bank and SEB.

“Our first green bond was issued in 2019 and our first EUR denominated green bond was issued in November 2020. We are very pleased with this issuance of our green euro bonds under the new framework and the trust shown by the investors. This issuance fits our sustainable finance strategy well and supports us in further accelerating our sustainability commitments and actions,” says Kaarlo Höysniemi, SVP Group Treasury.

The proceeds from the new bonds will be used to finance eligible projects and assets that promote the transition towards a low-carbon and environmentally sustainable society in accordance with Stora Enso’s sustainability agenda and goals. The six eligible asset categories are: sustainable forest management, sustainable product processes, energy efficiency, renewable energy and waste to energy, sustainable water management, and waste management and pollution control.

More information about our green bonds is available at storaenso.com/greenbonds. 

For further information, please contact:
Kaarlo Höysniemi
SVP Group Treasury
tel. +358 400 251 179

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691 

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 21,000 employees and our sales in 2022 were EUR 11.7 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com/investors
 

STORA ENSO OYJ

For further information, please contact:
Kaarlo Höysniemi
SVP Group Treasury
tel. +358 400 251 179

Investor enquiries: 
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691