HELSINKI, Finland, Nov. 5, 2010 (GLOBE NEWSWIRE) -- Stora Enso will exercise its right to redeem all of the USD 421 million bond maturing in May 2011 through a make whole process. The bond will be redeemed on 9 December 2010.
"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 five months prior the date on which it was due for repayment," says Stora Enso CFO Markus Rauramo.
Stora Enso is a global paper, packaging and wood products company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging and wood products. The Group is the world leader in forest industry sustainability. We offer our customers solutions based on renewable raw materials. Our products provide a climate-friendly alternative to many non-renewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs some 27 000 people worldwide, and our sales in 2009 amounted to EUR 8.9 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) in the International OTCQX over-the-counter market.
CONTACT: Stora Enso Oyj Jyrki Tammivuori, SVP, Group Treasurer +358 2046 21043 Ulla Paajanen-Sainio, Head of Investor Relations +358 2046 21242 www.storaenso.com www.storaenso.com/investors