Stora Enso refinances its revolving credit facility
Stora Enso has signed a new EUR 700 million committed credit facility agreement with a syndicate of 16 banks, refinancing the existing EUR 1 400 million facility. The new facility matures in January 2014, and will be used as a backup for general corporate purposes. The loan has no financial covenants. The margin is based on a ratings grid, and at the current rating of BB/Ba2 the margin is 1.75% p.a. over Euribor.