Portland, Ore., Aug. 27 - Finland's Stora Enso announced in a Monday press release that it priced SEK 1 billion of notes by tapping two issues that mature in June 2017.
In a floating-rate tranche, the company priced a SEK 850 million add-on to its three-month Stibor plus 390 basis points notes at 100.866 to yield three month Stibor plus 370 bps.
In a fixed-rate tranche, Stora Enso priced a SEK 150 million add-on to its 5¾% notes at 100.719 to yield 5.57%.
Skandinaviska Enskilda Banken AB was the sole bookrunner.
"The tap was made to strengthen Stora Enso's liquidity even further," senior vice president and treasurer Jyrki Tammivuori commented in the Monday press release.
"We last issued Swedish krona bonds in June 2012, and we have now decided to benefit from the continuing strong demand from Swedish investors," Tammivuori added.
Stora Enso is a Helsinki-based paper and forestry products manufacturer.
| Issuer: | Stora Enso
|
| Amount: | SEK 1 billion
|
| Maturity: | June 2017
|
| Bookrunner: | Skandinaviska Enskilda Banken AB
|
| Settlement date: | Sept. 3
|
| Distribution: | Euro medium-term notes program
|
|
|
| Floating-rate notes
|
| Amount: | SEK 850 million
|
| Coupon: | Three month Stibor plus 390 bps
|
| Price: | 100.866
|
| Yield: | Three month Stibor plus 370 bps
|
| Total issue size: | SEK 2.2 billion
|
|
|
| Fixed-rate notes
|
| Amount: | SEK 150 million
|
| Coupon: | 5¾%
|
| Price: | 100.719
|
| Yield: | 5.57%
|
| Total issue size: | SEK 500 million
|
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