Stora Enso completes tap of two five-year bonds
The 1,350 million Kronor bond that pays a floating coupon of three-month Stibor plus 390 basis points was tapped with 850 million Kronor of new notes issued with a yield of Stibor +3.70 percent at a price of 100.866. The settlement date of the transaction is 3 September 2012.Following the tap, a total of 2,200 million Kronor of the bond is outstanding.The 350 million Kronor 5.75 percent fixed coupon bond was tapped with 150 million Kronor of new notes issued with a 5.57 percent yield at a price of 100.719. The settlement date of the transaction is 3 September 2012.Following the tap, a total of 500 million Kronor of the bond is outstanding.Sole arranger and bookrunner for these transactions was Skandinaviska Enskilda Banken, SEB."The tap was made to strengthen Stora Enso's liquidity even further. We last issued Swedish Kronor bonds in June 2012, and we have now decided to benefit from the continuing strong demand from Swedish investors," said Jyrki Tammivuori, Senior Vice President, Group Treasurer, Stora Enso, according to a press release.