Debt investors

Main debt securities

The following table sets forth Metsä Board's significant debt securities issued and outstanding at 30 September 2017

​Long-term borrowings

​Total amount,
EUR million

​Outstanding,
EUR million

​Average interest
rate*, %

​Maturity

​EUR 250 million bond issued 2017 ​250 ​250 ​2.8 ​2027
​EUR 225 million bond issued 2014 ​67 67                                     4.4 ​2019
​Syndicated credit facility ​250 ​150                   3.2 ​2020
​Bilateral loans ​51                  51 ​1.4 ​2017–2020
​Finance leases ​22 ​22                   2.3 ​2017–2024
​Pension loans ​213 ​111 ​4.5 2017–2020

* The average interest rate take into account outstanding interest rate swaps and amortised arrangement fees.
The average interest rate of all Metsä Board interest bearing net liabilities incl. interest rate derivatives per 30 September 2017 is 3.2% and average repayment time of long-term borrowing is 5.4 years.

 


The following table sets forth Metsä Board's principal long-term liquidity reserves at 30 September 2017

Liquidity reserves

​Total amount,
EUR million

​Outstanding,
EUR million

​Average interest
rate*, %

​Maturity

Revolving credit facility

​100

​0

- 2020

​Pension loan facilities

​213

                     111

                  4.5 -

Short-term funding programmes

​Metsä Group internal short-term limit

150​

0​

- 0–12 months

Metsä Group Treasury funding programmes

​Domestic CP programme

150​ 0​ -​ ​0–12 months

Debt repayment schedule

Long-term interest bearing liabilities and committed credit facilities at 30 September 2017

EUR million

Long-term interest bearing liabilities Committed undrawn credit facilities
2017 81
2018 41
2019 101
2020 175 100
2021 1
2022 1
2023 0
>2023 249 102

Credit  ratings

Moody's and Standard & Poor's credit ratings

​Rating ​Outlook
​Moody's ​Ba1 ​Stable
​Standard & Poor's ​BB+ ​Positive

Bonds

Metsä Board Corporation issued in March 2014 senior unsecured notes in the amount of EUR 225 million, maturing 13 March 2019, and carrying a fixed coupon interest rate of 4.000 per cent per annum (the “2019 Notes”). The 2019 Notes have been listed on the official list maintained by Nasdaq Helsinki Ltd.

Metsä Board Corporation issued in September 2017 senior unsecured notes in the amount of EUR 250 million, maturing 29 September 2027, and carrying a fixed coupon interest rate of 2.750 per cent per annum (the “2027 Notes”). The 2027 Notes are expected to be listed on the official list maintained by Nasdaq Helsinki Ltd on or about 3 October 2017.

The 2019 Notes and 2027 Notes are together referred to as the Notes.

DISCLAIMER

PLEASE READ THE FOLLOWING DISCLAIMER CAREFULLY BEFORE DECIDING WHETHER TO CLICK ON THE LINK BELOW.

The information available on the following website does not constitute a public offer of securities of any kind.

The legislation of certain countries may restrict the distribution of the information on the following website. The information on the following website or other information related to the Notes issued by Metsä Board Corporation or their listing may not be distributed in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or such other countries or otherwise in such circumstances in which such distribution would be unlawful or otherwise not permitted.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or by any state official in the U.S. The Notes may not be offered or sold, or otherwise directly or indirectly distributed into the United States or to any U.S. person (as such terms are defined in Regulation S under the Securities Act) or on their behalf.

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