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Sappi prices €300m notes in refinancing effort

6th March 2025

By: Marleny Arnoldi

Deputy Editor Online

     

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After announcing a €300-million senior notes offer on March 3, JSE-listed pulp and paper producer Sappi has successfully priced the bond offering for its subsidiary Sappi Papier Holding, allowing it to improve its debt maturity profile.

The offer also allows the group to strengthen its liquidity headroom and its balance sheet.

The net proceeds from the offering will be used to redeem all of Sappi’s outstanding senior notes due 2026, totalling €240-million. The balance will be used for general corporate purposes.

The issued notes are sustainability-linked and are due in 2032.

“The refinancing of the 2026 bond with a new seven-year bond meets the group’s objective of extending the debt maturity profile and extends our introduction of sustainability-linked targets to our international bond transactions,” says Sappi CEO Steve Binnie.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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