Stora Enso launches €300 million 10-year notes at 150 bps over mid-swaps; pricing Wednesday

By Paul A. Harris

Portland, Ore., March 14 – Stora Enso Oyj launched a €300 million offering of 10-year senior notes (Ba1/BB+) at a 150 basis points spread over mid-swaps, according to a market source.

The deal is set to price on Wednesday.

Talk comes at the tight end of the mid-swaps plus 150 bps to 155 bps spread talk, which was revised downward from earlier spread talk in the 170 bps area.

Deutsch Bank, Goldman Sachs and NatWest are managing the sale.

The prospective issuer is a Helsinki, Finland-based paper and forest products manufacturer.

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