Sappi wins “Structured Bond Deal of the Year” award at the Bonds & Loans Africa Awards

Following an intense selection process, Sappi’s ZAR1.8 billion 5-year Convertible Bond was recognised as the winner of the Bonds & Loans Africa Award for Structured Bond Deal of the Year for 2022 during an awards ceremony hosted by GFC Media Group on 9 March 2022 in Cape Town.

The selection criteria included the features of the bond transaction,the borrower’s objectives and results of the fund raising,the use of the proceeds and the innovation demonstrated by the borrower to funding and debt management. Commenting on the

award, Sappi’s Group Treasurer Jörg Pässler said: “This award is particularly pleasing in view of the market conditions at the time of raising this funding. 

The Covid-19 pandemic had a severe impact on financial markets and in 2020 the South African bond market was effectively closed for a few months.The bank market was stretched with many corporates requiring emergency assistance during the pandemic.  Sappi wanted to preserve its liquidity resources while quarterly results were still depressed from the pandemic and decided to launch a convertible bond to complete the important Saiccor expansion project.  It was a very successful transaction during extremely difficult times and this award recognises the challenges and the success of the transaction.”

Issued by Brunswick 
on behalf of Sappi Limited
Tel + 27 (0) 11 502 7300

For further information

Jörg Pässler

Group Treasurer

Sappi Limited

Tel +27 (0)11 407 8391

Mobile +27 (0)83 666 6589

André F Oberholzer

Group Head Corporate Affairs

Sappi Limited

Tel +27 (0)11 407 8044

Mobile +27 (0)83 235 2973