DEALS Facilitating Sustainable Growth Absa | Corporate and Investment Banking > Insights and Events > Facilitating Sustainable Growth SHARE We are pleased to have acted as Sole Lead Arranger and Sole Sustainability Coordinator for Sappi Limited’s R1.5 Billion sustainability-linked issuance facility. Sappi Limited (“Sappi”), along with its subsidiaries, engages in the provision of materials made from wood fiber-based renewable resources in Europe, North America, and South Africa. The company manufactures and sells pulp, paper and packaging products. It also provides biomaterials, such as valida, lignin, furfural, and sweeteners, as well as forestry products. The company was founded in 1936 and is headquartered in Johannesburg, South Africa. This issuance is the first sustainability-linked facility in the packaging and paper industry in South Africa, the largest sustainability-linked issuance in the South African bond market to date, and the only sustainability-linked issuance in South Africa with only upward margin ratchets. This issuance positions Sappi as a leader in climate action, and their transparent reporting sets a precedent for peers and drives the sustainability agenda within the sector. The Key Performance Indicators identified for this issuance will focus on reducing Sappi’s global GHG emissions and increasing the Sourcing of Certified Fibre supplied to Sappi’s mills in South Africa. These KPIs will enable Sappi’s focus on transitioning its operations to carbon neutrality and supporting small-scale farmers in its value chain, further enhancing the socio-economic landscape in South Africa. This deal reflects Absa's commitment to client growth in line with sustainability best practice. Completion of this transaction was driven by the passion of Absa team’s understanding of Sappi’s long and short-term needs. The process was managed diligently, structuring and negotiating the best outcomes while mobilizing strong investor interest. The orderbook attracted more liquidity than any other corporate auction in 2024 to date and achieved an overall subscription rate of over 4x. Furthermore, Absa's sustainability expertise, going just beyond capital raising, aligned the issuance with best practice and demonstrated that by partnering with our clients, we are able to achieve outstanding results. Contact Marcus Veller for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Empowering Agricultural Trade in Africa This USD 45 million facility supporting Royal Nuts’ subsidiary, Dorado in Côte d’Ivoire, the world’s largest single-roof cashew processing facility, driving economic growth, community upliftment, and global market expansion, will boost its working capital and optimise supply chain efficiency in West Africa. Read more DEALS Accelerating transformative Infrastructure development for long-term impact Our $75 million deal with the Emerging Africa & Asia Infrastructure Fund (EAAIF) is set to accelerate infrastructure development for lasting impact - bridging Africa’s long-term debt gap, and supporting projects that promote infrastructure development, economic growth and renewable energy expansion. Read more DEALS Powering a sustainable future with Ferroglobe At Absa CIB, we believe that financing critical mineral supply is essential for advancing the Just Energy Transition. Our partnership with Ferroglobe supports the expansion of silicon metal production, which is key to semiconductor chips and solar panels, driving economic growth, job creation and Africa’s role in the renewable energy value chain. Read more