Stora Enso issues make-whole call for $389 million of bonds due 2016

By Susanna Moon

Chicago, April 24 – Stora Enso Oyj said it plans a make-whole call for its $389 million bonds due April 2016.

The bonds will be redeemed on May 26.

“The reason for the make whole is to manage cash efficiently and proactively,” Stora Enso chief financial officer Seppo Parvi said in the press release.

“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.”

The company is a Helsinki, Finland-based paper and forestry products manufacturer.

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