White & Case advises Stora Enso on €4 billion EMTN programme update and €1 billion green bonds issuance

Global law firm White & Case LLP has advised Stora Enso on the annual update of its €4 billion Euro Medium Term Note (EMTN) programme, and on the subsequent issuance thereunder of a €500 million 4.00% green bond due 2026 and a €500 million 4.25% green bond due 2029. 

BNP Paribas, Crédit Agricole CIB, Danske Bank and SEB acted as the joint lead managers and bookrunners for the green bonds offering. The EMTN programme, including the green bonds, is listed on the Luxembourg Stock Exchange. The proceeds will be used to finance eligible projects and assets under Stora Enso's Green and Sustainability-Linked Financing Framework.

Listed on Nasdaq Helsinki and Nasdaq Stockholm, Stora Enso manufactures renewable products in packaging, biomaterials and wooden construction, and is one of the largest private forest owners in the world. It has approximately 21,000 employees and achieved sales during 2022 of €11.7 billion.

The White & Case team which advised on the transaction was led by partners Jenni Nygård (Helsinki) and Michael Bark-Jones (Stockholm), and included associates Ben Tuiskula, Helen Happonen (both Helsinki) and Siavash Saberian (Stockholm).

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