Chemical cellulose and paper-based solutions company Sappi Papier Holding has made offers to buy for cash its outstanding 3.125% senior notes due on April 15, 2026, as part of the company’s liability management and to decrease its overall level of gross debt.
The outstanding principal amount is €443-million and the target acceptance amount is €150-million in aggregate principal amount, subject to the company's right to increase or decrease the aggregate principal number of notes accepted for buying, the company notes.
The tender offer will expire at 16:00, London time, on October 10, unless extended, re-opened, amended or terminated. Noteholders must validly tender their Notes at or prior to the expiration deadline in order to receive the purchase price, plus accrued interest.