16.1.2003: Meldung: Stora Enso signs EUR 2.5 billion credit

Stora Enso has signed a new EUR 2.5 billion revolving credit facility agreement with a group of 21 banks. The facility, which has a maturity of five years, is for general corporate purposes including the refinancing of existing syndicated facilities amounting to EUR 1.6 billion. The loan facility has a margin of 0.425% p.a. over Euribor.

The syndication was significantly oversubscribed and the facility size was increased from EUR 2.0 billion to EUR 2.5 billion.

Mandated Lead Arrangers for the transaction are ABN Amro Bank N.V, Barclays Capital, Crédit Agricole Indosuez and Nordea. Banks were invited to join the facility as Arrangers (EUR 150 million), Senior Lead Managers (EUR 75 million) and Lead Managers (EUR 50 million). The other banks joining the syndicate are:

Arrangers: Bank of America N.A, BNP Paribas, Citibank International plc, Commerzbank AG, Danske Bank, Dresdner Kleinwort Wasserstein, ING Group, Handelsbanken, JP Morgan Chase Bank, Skandinaviska Enskilda Banken AB, The Bank of Tokyo-Mitsubishi Ltd and UBS Warburg.

Senior Lead Managers: KBC Bank NV and Okobank Osuuspankkien Keskuspankki Oyj.

Lead Managers: Merrill Lynch Capital Markets Bank Ltd, Morgan Stanley and Sampo Bank plc.

This transaction significantly reduces the number of Stora Enso""s banking relationships, but at the same time strengthens and develops the relationships with the above core banks.

Stora Enso is an integrated forest products company producing magazine papers, newsprint, fine papers, packaging boards and wood products, areas in which the Group is a global market leader. Stora Enso""s sales total EUR 13.5 billion and annual paper and board production capacity about 15 million tonnes. Some 43 000 persons are employed in more than 40 countries and the Company""s shares are listed in Helsinki, New York and Stockholm.

Ulla Paajanen-Sainio
Vice President, Investor Relations and Financial Communications
Tel. +358 2046 21242
Fax +358 2046 21307
Postal address: P.O. Box 309, FIN-00101 Helsinki, Finland
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