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Sappi Southern Africa Proprietary Limited ZAR1,500,000,000 Note issues
Sappi Southern Africa Proprietary Limited
Incorporated in the Republic of South Africa
(Registration number 1951/003180/07)
For further information Issued by SOUTH AFRICA
For further information, please contact: Issued on behalf of Sappi Southern Africa Tel +27 (0)11 407 8111
Colin Mowatt Proprietary Limited by: Fax +27 (0)11 403 8236
Financial Director André Oberholzer
South Africa www.sappi.com
Sappi Southern Group Head Corporate Affairs
Africa (Pty) Ltd Sappi Limited
Tel +27 11 407 8355 Tel +27 11 407 8044
Colin.Mowatt@sappi.com Andre.Oberholzer@sappi.com
Jörg Pässler
Group Treasurer
Sappi Limited
Tel +32 2676 9621
Jorg.Passler@sappi.com
Media Release
15 April 2013
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Sappi Southern Africa Proprietary Limited ZAR1,500,000,000 NOTE ISSUES
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Sappi Southern Africa Proprietary Limited is pleased to announce that on 16 April 2013 it will
issue ZAR255,000,000 Senior Unsecured Floating Rate Notes due 16 April 2016 (the SSA04
Notes), ZAR500,000,000 Senior Unsecured Floating Rate Notes due 16 April 2018 (the
SSA05 Notes) and ZAR745,000,000 Senior Unsecured 8.06% Fixed Rate Notes due
16 April 2020 (the SSA06 Notes) (the SSA04 Notes, the SSA05 Notes and the SSA06 Notes
collectively the Notes or the Issue) which collectively amount to ZAR1,500,000,000 under its
ZAR5,000,000,000 Domestic Medium Term Note Programme dated 22 June 2011. The
Notes will be listed on the Interest Rate Market of the JSE Limited.
The proceeds of the Notes issued will be used to repay the maturing ZAR1,000,000,000
SMF 1 bond in June 2013, and the remainder will be used to fund a portion of the dissolving
wood pulp conversion project at the Ngodwana Mill near Nelspruit.
Commenting on the placement, Sappi Limited Chief Executive Officer Ralph Boëttger said:
“In line with our strategy, this successful bond placement further reduces Sappi’s cost of
finance and further improves our debt maturity profile. We are also satisfied with the positive
rates we were able to achieve.”
Dealers
Nedbank Capital, a division of Nedbank Limited
Rand Merchant Bank, a division of First Rand Bank Limited
Legal Advisor
Bowman Gilfillan Incorporated
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Forward-looking statements
Certain statements in this release that are neither reported financial results nor other
historical information, are forward-looking statements, including but not limited to statements
that are predictions of or indicate future earnings, savings, synergies, events, trends, plans or
objectives.
The words “believe”, “anticipate”, “expect”, “intend”, “estimate”, “plan”, “assume”,
“positioned”, “will”, “may”, “should”, “risk” and other similar expressions, which are
predictions of or indicate future events and future trends, which do not relate to historical
matters, identify forward-looking statements. You should not rely on forward-looking
statements because they involve known and unknown risks, uncertainties and other factors
which are in some cases beyond our control and may cause our actual results, performance
or achievements to differ materially from anticipated future results, performance or
achievements expressed or implied by such forward-looking statements (and from past
results, performance or achievements). Certain factors that may cause such differences
include but are not limited to:
• the highly cyclical nature of the pulp and paper industry (and the factors that
contribute to such cyclicality, such as levels of demand, production capacity,
production, input costs including raw material, energy and employee costs, and
pricing);
• the impact on our business of the global economic downturn;
• unanticipated production disruptions (including as a result of planned or unexpected
power outages);
• changes in environmental, tax and other laws and regulations;
• adverse changes in the markets for our products;
• the emergence of new technologies and changes in consumer trends including
increased preferences for digital media;
• consequences of our leverage, including as a result of adverse changes in credit
markets that affect our ability to raise capital when needed;
• adverse changes in the political situation and economy in the countries in which we
operate or the effect of governmental efforts to address present or future economic
or social problems;
• the impact of restructurings, investments, acquisitions, dispositions and other
strategic initiatives (including related financing), any delays, unexpected costs or
other problems experienced in connection with dispositions or with integrating
acquisitions or implementing restructuring or strategic initiatives (including our
announced dissolving wood pulp conversion projects), and achieving expected
savings and synergies; and
• currency fluctuations.
We undertake no obligation to publicly update or revise any of these forward looking
statements, whether to reflect new information or future events or circumstances or
otherwise.
Sponsor: UBS South Africa (Pty) Ltd
Date: 15/04/2013 12:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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