Stora Enso has today successfully tapped its two five-year bonds due in June 2017. Both bonds are issued under Stora Enso’s EMTN (Euro Medium Term Note) programme.
The SEK 1 350 million bond that pays a floating coupon of three-month Stibor plus 390 basis points was tapped with SEK 850 million of new notes issued with a yield of Stibor + 3.70% at a price of 100.866. The settlement date of the transaction is 3 September 2012. Following the tap, a total of SEK 2 200 million of the bond is outstanding.
The SEK 350 million 5.75% fixed coupon bond was tapped with SEK 150 million of new notes issued with a 5.57% yield at a price of 100.719. The settlement date of the transaction is 3 September 2012. Following the tap, a total of SEK 500 million of the bond is outstanding.
Sole arranger and bookrunner for these transactions was Skandinaviska Enskilda Banken AB (publ) (SEB).
“The tap was made to strengthen Stora Enso’s liquidity even further. We last issued Swedish krona bonds in June 2012, and we have now decided to benefit from the continuing strong demand from Swedish investors,” says Jyrki Tammivuori, SVP, Group Treasurer.