Sappi offers €400m senior notes

12th March 2021

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed paper and packaging company Sappi has announced an increase to a senior notes offering by its subsidiary Sappi Papier Holding (SPH) to €400-million, from €350-million initially.

The company is implementing this offering to improve its debt maturity profile and to strengthen its liquidity headroom and its balance sheet.

The net proceeds from the offering will be used to redeem all of SPH’s outstanding €350-million senior notes due 2023 and for general corporate purposes.

Sappi CEO Steve Binnie says this refinancing of the 2023 bond with a new seven-year bond meets the group’s objective of extending the debt maturity profile, with no material debt maturities now until 2026.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION