Tornator Oyj - Company Announcement

Tornator Oy will issue a EUR 250 million senior secured bond

Tornator Oy      Press Release       11th December 2012 at 12:00 p.m.
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA, HONG KONG OR IN
ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF SECURITIES. 
 

Tornator Oy, the third largest forest owner in Finland, has refinanced its debt
portfolio by issuing a new debenture loan through an exchange offer, renewing
its syndicated bank loan facility and issuing a EUR 250 million secured bond. 
 

Pohjola Bank plc acted as the global coordinator for the debt portfolio
refinancing of Tornator Oy. 

Tornator Oy will issue a EUR 250 million senior secured bond. The secured bond
has a maturity of 7 years, and it carries a fixed coupon with interest rate of
3.125 per cent per annum. This bond, which is secured by certain forest
properties owned by Tornator in Finland, attracted a broad investor base in
Finland and in other parts of Europe. Over 30 institutional investors
subscribed for the bond.  Application will be made to have the bond listed on
NASDAQ OMX Helsinki. In this connection Tornator Oy will change its corporate
form to a public limited company. The proceeds of the bond offering will be
used for partial repayment of existing bank loans and general corporate
purposes. 

Handelsbanken Capital Markets, Pohjola Markets and SEB acted as Joint Lead
Managers and Bookrunners of the secured bond. Roschier, Attorneys Ltd. acted as
the company's legal advisor and Hannes Snellman Attorneys Ltd acted as the
legal advisor to the Joint Lead Managers. 

Tornator Oy
Arto Huurinainen
CEO 

Further information:
Henrik Nieminen, CFO, tel. +358 10 563 0013 

Distribution:
NASDAQ OMX
Principal media
www.tornator.fi