South Africa's Sappi may access capital markets to refinance debt

By Jennifer Chiou

New York, July 8 - Sappi Ltd. announced that it is considering the possibility of accessing the capital markets in order to arrange long-term secured debt to refinance some of its existing short-term debt and other securities.

The Johannesburg-based producer of coated woodfree paper also said that it is in the bank syndication process for a new secured revolving credit facility and a new secured OeKB term loan facility in order to refinance or replace its existing revolving credit facility.

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