Sappi Prices US$705M Multi-Currency Senior Secured Notes Offering

Sappi SPP announced today that it priced its upsized bond offering to raise approximately US$705 million equivalent of new senior secured notes. The new notes will be issued by Sappi Papier Holding GmbH in a series of euro 250 million notes maturing in 2018 issued at a price of 100% with a coupon of 6.625%, and a series of US$350 million maturing in 2021 issued at a price of 100% with a coupon of 6.625%.