By Angela McDaniels
Tacoma, Wash., Jan. 22 - Sappi Ltd. subsidiary Sappi Southern Africa (Pty.) Ltd. issued ZAR 400 million of floating-rate senior notes due April 22, 2013, according to a notice from the Johannesburg Stock Exchange.
The interest rate is three-month Jibar plus 20 basis points.
Investec Bank Ltd. is the dealer. Nedbank Capital is the sponsor.
The notes were issued under the company's ZAR 5 billion domestic medium-term note program. The total amount issued under the program so far is ZAR 2.65 billion.
Sappi makes coated fine paper and is based in Johannesburg.
| Issuer: | Southern Africa (Pty.) Ltd.
|
| Issue: | Senior notes
|
| Amount: | ZAR 400 million
|
| Maturity: | April 22, 2013
|
| Coupon: | Three-month Jibar plus 20 bps
|
| Dealer: | Investec Bank Ltd.
|
| Settlement date: | Jan. 21
|
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