Sappi completes refinancing with €300m notes offering

Sappi Limited announced today the completion of its refinancing transactions, highlighted by the closing of a €300 million offering of 4.500% sustainability-linked senior notes due in 2032, issued by its subsidiary Sappi Papier Holding GmbH (SPH). The company plans to use the net proceeds from this offering to redeem all of SPH's outstanding senior notes due in 2026, which total €240 million in aggregate principal amount, and to address general corporate needs. With this refinancing concluded, Sappi now possesses sufficient funds to cover the redemption price, accrued interest, and any additional amounts for SPH’s 2026 Notes. Consequently, the Refinancing Condition outlined in the redemption notice issued on March 5, 2025, for the 2026 Note holders has been met, and the redemption of the 2026 Notes will proceed as described in that notice.