https://www.engineeringnews.co.za
Aggregate|Financial|Paper|Solutions
Aggregate|Financial|Paper|Solutions
aggregate|financial|paper|solutions

Sappi buys back €200m of 2026 bonds

14th October 2022

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

JSE-listed dissolving pulp and paper-based solutions company Sappi says, owing to strong uptake from bondholders, it has accepted for purchase all the 2026 bonds tendered for its offer to buy its outstanding 3.125% senior notes, due in 2026.

Sappi bought €209.6-million of the aggregate principal amount of the 2026 bonds in the tender offer, at a purchase price of 92.41% plus accrued and unpaid interest, yielding a capital gain of €15.9-million.

The settlement date for payment is expected to be on October 17.

“I am very pleased with the result of this bond repurchase. The transaction fits well with our overall strategy to use our free cash efficiently and reduce gross debt, further strengthening our financial position,” says Sappi CEO Steve Binnie.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Economic growth a top priority for GNU
Economic growth a top priority for GNU
19th July 2024 By: Creamer Media Reporter
Magazine round up | 19 July 2024
Magazine round up | 19 July 2024
19th July 2024

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







sq:0.285 0.348s - 207pq - 2rq
Subscribe Now