Sappi Closes a New Euro600 Million Multi-currency Revolving Credit Facility
Sappi Limited
(Registration number 1936/008963/06)
(Incorporated in the Republic of South Africa)
Share code: SAP & ISIN: ZAE000006284
(`Sappi` or the `Company`)
Press Release
Johannesburg, 5 July 2005
Sappi Closes a New Euro600 Million Multi-currency Revolving Credit Facility
Sappi Limited is pleased to announce the successful completion of its new EUR
600,000,000 Multi-currency Revolving Credit Facility (the `Facility`). The
purpose of the Facility is to refinance an existing revolving facility as well
as for general corporate purposes. The Facility was significantly over-
subscribed.
Commenting on the new Facility Don Wilson, Executive Director - Finance, Sappi
Limited, said `The successful completion of the new Facility confirms the
market`s long-term belief in and support of our industry. Sappi has once again
demonstrated its ability to access debt markets on competitive terms; the
margins we have negotiated are more favourable than our existing facility. We
now have in place a well-structured suite of financing with an excellent
maturity profile, with our average term of debt now exceeding 8 years. `
BNP Paribas, J P Morgan plc and SG Corporate & Investment Banking acted as
Mandated Lead Arrangers and Book runners.
ENDS
Issued by:
Brunswick South Africa Limited
on behalf of Sappi Limited
Roderick Cameron/Nonhlanhla Kumalo
Tel +27 (0)11 268 5750
For further information:
Don Wilson
Executive Director - Finance
Sappi Limited
Tel +27 (0)11 407 8041
Don.Wilson@sappi.com
Date: 05/07/2005 02:56:41 PM
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