Southern Africa

Young people in South Africa’s rural areas have been using their power to communicate by getting active on their social media platforms with useful information about curbing the spread of the COVID-19 Coronavirus.

If there is something that the last few lockdown months have taught many of us, is that we need to make 'Time for Nature'. We have marvelled as the planet has taken a breather along with her inhabitants and has rejuvenated herself, as we have rediscovered the abundance that she has to offer. It is why it is so apt that it is the theme for this year’s World Environment Day.

Sappi has decided not to proceed with the proposed offering of €250 million senior notes at this time due to unsatisfactory market conditions. Sappi has a long history of prudent and proactive balance sheet management.

Sappi, a leading diversified woodfibre company, has published an informational document on its website with further information about the Company and its consolidated subsidiaries (the “Sappi Group”). The information is available as of today at the following address: https://www.sappi.com/

Sappi Limited today announced the offering of €250 million aggregate principal amount of senior notes due 2025, in an offering that is exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the “Securities Act”). The notes will be issued by Sappi Papier Holding GmbH, a subsidiary of Sappi Limited. The Company is implementing this offering in order to strengthen its liquidity headroom and balance sheet. The net proceeds from this offering will be used for general corporate purposes.

Commenting on the quarter’s result, Binnie said: “I am very pleased with the strong packaging and specialities performance which saw EBITDA contribution almost double. I am also pleased with the solid results in the graphics paper segment, as well as the significant increase in market share across both segments. Despite these strong performances, the results were negatively impacted due to the historic low dissolving pulp (DP) prices, and reduced DP sales volumes.”

Today, Sappi joins the world in celebrating the 50th anniversary of Earth Day and in honouring the theme of climate action.

In an effort to provide some relief during the COVID-19 Coronavirus global pandemic, Sappi Southern Africa has made available several donations of scarce items such as; hand sanitiser, face masks, nutritional porridge and paper products, to reduce pressure on the National Government’s resources as well as to support the most vulnerable during these extraordinary times.

Commenting on the result, Sappi Chief Executive Officer Steve Binnie said: “A good performance from the European and North American packaging and specialities segment and satisfactory results from the graphic paper businesses were not enough to offset the significant impact from the unprecedented and markedly lower dissolving pulp (DP) prices."

The growth of the Sappi Trails Programme has resulted in a world class network of trails in the Karkloof and Howick area in KwaZulu-Natal. Extensive and exciting trail networks have also been established at both Mankele Bike Park and Tranquilitas Adventure Farm in Mpumalanga.