UPM-Kymmene and APRIL to negotiate loan extension

Archive 8.1.2002 0:00 EET

UPM-Kymmene Corporation and Asia Pacific Resources International Holdings Ltd (APRIL) are in the process of negotiating extension of the term and new conditions of the USD 121 million loan which was originally granted to APRIL on 19 April, 1999.

The loan was to mature on 31 December, 2001. In August 2000 in connection with UPM-Kymmene acquiring all of APRIL's holdings in the fine paper company located in Changshu, China, UPM-Kymmene and APRIL agreed to negotiate a possible extension of the final maturity of the loan and a possibly new security of it.


UPM-Kymmene Corporation
Corporate Communications
8 January, 2002