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SAP - Sappi Announces US$680 Million multi-currency Senior Secured Notes
Offering
SAPPI LIMITED
Registration Number 1936/008963/06
(Incorporated in the Republic of South Africa)
JSE Code: SAP
ISIN: ZAE000006284
NYSE Code: SPP
Announcement
Immediate release
Sappi Announces US$680 Million multi-currency Senior Secured Notes Offering
4 April 2011
Sappi Limited today announced the offering of US$680 million, in euros and
dollars, equivalent aggregate principal amount of senior secured notes to be
issued in two series due 2018 and 2021, respectively, 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 (the "issuer"), a subsidiary of Sappi Limited.
The net proceeds of the offering are expected to be used (a) to redeem the
remaining outstanding amount of the issuer`s 6.75% Guaranteed Notes due 2012
and (b) to repay approximately Euro200 million of the outstanding borrowings
under our OeKB Term Loan Facility.
This announcement does not constitute an offer to sell or the solicitation of
an offer to buy securities.
This announcement shall not constitute an offer to sell or a solicitation of
an offer to purchase any securities in the Unites States, and shall not
constitute an offer, solicitation or sale in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful. The securities
may not be offered or sold in the United States absent registration under the
Securities Act of 1933 or an applicable exemption from registration
requirements. This press release is being issued pursuant to and in
accordance with Rule 135c under the Securities Act.
Forward looking statement
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;
- 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 investments, acquisitions and dispositions (including
related financing), any delays, unexpected costs or other problems
experienced in connection with dispositions or with integrating
acquisitions and achieving expected savings and synergies; and
- currency fluctuations.
We undertake no obligation to publicly update or revise any of these
forwardlooking statements, whether to reflect new information or future
events or circumstances or otherwise.
For further information contact:
Robert Hope Andre F Oberholzer
Group Head Strategic Development Group Head Corporate Affairs
Sappi Limited Sappi Limited
Tel +27 (0) 11 407 8492 Tel +27 (0) 11 407 8044
Robert.Hope@sappi.com Mobile +27 (0) 83 235 2973
Andre.Oberholzer@sappi.com
Graeme Wild
Group Investor Relations Manager
Sappi Limited
Tel +27 11 407 8391
Mobile +27 (0) 83 320 8624
Graeme.Wild@sappi.com
Date: 04/04/2011 08:30:01 Supplied by www.sharenet.co.za
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