Stora Enso starts tender for 5% notes due 2018, 5.5% notes due 2019

New York, May 30 – Stora Enso Oyj began a tender offer for its €204,106,000 of 5% notes due 2018 and its €418,781,000 of 5.5% notes due 2019, according to a notice from the issuer.

Pricing for the 2018 notes will be set using a purchase yield of negative 0.25% and for the 2019 notes using a purchase yield of negative 0.15%.

The purchase price will be the value of all remaining principal and interest payments discounted using the purchase yield minus accrued interest. In addition, Stora Enso will pay accrued interest.

The tender ends at 11 a.m. ET on June 7. Settlement is planned for June 9.

Included in the amounts outstanding are €2,678,000 of the 2018 notes and €7,235,000 of the 2019 notes held by the company.

Stora Enso said it is carrying out the tender in order to manage upcoming maturities and to extend its debt maturity profile.

The company announced an offering of new euro-denominated notes on Tuesday.

Completion of the sale of new notes is a condition to the tender offer.

Holders who participate in the tender offer will be given preference in the allocation of new notes.

Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com), Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) and Skandinaviska Enskilda Banken AB (+46 8 506 232 09 or liabilitymanagement@seb.se) are dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or stora@lucid-is.com) is tender agent.

The tender is being conducted under Regulation S.

Stora Enso is a Helsinki, Finland-based paper and forest products manufacturer.

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