Our strategy to reposition Sappi as a profitable and cash-generative diversified woodfibre group remains well on track. The strong quarterly growth in our EBITDA excluding special items continues with an increase of 15% over the prior year to US$195 million.
Sappi Europe welcomed this year’s 13 qualifying teams to Munich, Germany to compete for the Sappi Cup Table Football Tournament title on 21st April 2016. 28 players from an original pool of 148 teams made the trip, representing Austria, CEE - Slovakia and Czech Republic, France, Germany, Italy, Poland, Spain, the UK.
The 2016 Foil & Specialty Effects Association National Conference was a huge success – with many attendees expressing that it was the best content ever. FSEA would like to thank all of those FSEA members and others who took the time to join us at the conference.
Sappi Limited announced today the closing of the offering of €350 million 4% senior secured notes due 2023 by its subsidiary Sappi Papier Holding GmbH (“SPH”). The net proceeds from this offering will be used to redeem all of SPH’s outstanding US$350 million senior secured notes due 2021 (the “2021 Notes”).
Further to Sappi’s announcement on March 14, 2016 in connection with a bond issue, Sappi Limited announced today that it priced its bond offering to raise €350 million of new senior secured notes due 2023 with a coupon of 4.0% per annum.