HELSINKI, Finland, April 24, 2015 (GLOBE NEWSWIRE) -- Stora Enso will exercise its right to redeem all of the USD 389 million bond maturing in April 2016 through a make whole process. The bond will be redeemed on 26 May 2015.
"The reason for the make whole is to manage cash efficiently and proactively. Because of our strong liquidity, we are able to exercise our right to redeem the entire bond 11 months prior the date on which it was due for repayment," says Stora Enso CFO Seppo Parvi.
For further information, please contact:
Seppo Parvi, CFO, tel. +358 2046 21205
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wood and paper on global markets. Our aim is to replace non-renewable materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 27 000 people in more than 35 countries, and our sales in 2014 were EUR 10.2 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market.
STORA ENSO OYJ
Source:Stora Enso Oyj