Stora Enso has signed a new Euro 600 million revolving credit facility agreement with a syndicate of 13 banks to refinance its existing Euro 700 million facility. The new facility matures in January 2023 and will be used as a backup for general corporate purposes. The loan has no financial covenants, as the company says in the press release received by Lesprom Network.
BNP Paribas, Citi and SEB acted as Coordinators, Bookrunners and Mandated Lead Arrangers for the facility, while Barclays Bank PLC, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, DBS Bank Ltd, London Branch, DNB Bank ASA, Goldman Sachs, J.P. Morgan Securities plc, National Westminster Bank PLC, Nordea Bank AB (publ) and OP joined in syndication as Mandated Lead Arrangers.
“We are pleased with the continued support and commitment of our relationship banks. Improving the terms of the facility and extending maturity even longer adds flexibility during Stora Enso’s transformation,” says Group Treasurer Martin Ros.
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets.