CEO Steve Binnie says the refinancing plan ‘meets the group’s objective of extending the debt-maturity profile and further reducing finance charges’
Storage towers at Sappi’s Ngodwana wood mill in Mpumalanga. Picture: BLOOMBERG
Sappi said on Wednesday it raised €450m worth of new bonds due 2026. The bonds had a coupon of 3.125% a year. Sappi CEO Steve Binnie said the refinancing “meets the group’s objective of extending the debt-maturity profile and further reducing finance charges”.The group’s shares were 0.5% up at R73 in early trade.
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