HELSINKI, Finland, Dec. 21, 2015 (GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 21 December 2015 at 9.00 EET
Stora Enso has extended its EUR 700 million committed credit facility agreement by one year. The facility now matures in January 2019, and will be used as a backup for general corporate purposes. The facility is currently undrawn.
The new margin is based on a ratings grid, and at the current ratings of BB/Ba2 the margin is 1.20% p.a. over Euribor. The loan has no financial covenants.
The lenders are Credit Agricole Corporate and Investment Bank, Pohjola Bank plc, SEB, Barclays, BNP Paribas Corporate & Investment Banking, Citi, Deutsche Bank, DNB Bank ASA, Goldman Sachs Bank USA, HSBC Bank plc, JP Morgan, Nordea, and Royal Bank of Scotland.
"We are pleased with the continued support and commitment of our relationship banks. Improving the terms of the facility and extending maturity adds flexibility during Stora Enso's transformation," says Group Treasurer Martin Ros.
For further information, please contact:
Martin Ros, SVP, Group Treasurer, tel. +46 1046 71078
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242
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 Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (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