Finnish packaging company Huhtamaki said Tuesday it is increasing the size of a debt buyback offer for its notes maturing in 2027, citing strong investor demand.
The company now intends to accept 125 million euros in principal amount of the notes, up 25% from its initial target of up to 100 million euros.
The tender offer is part of a broader refinancing plan announced in late August that also includes the issuance of new debt.
According to the company, the offer was oversubscribed, and validly tendered notes will be scaled back, with only about 37% of the amount offered by investors being accepted.
The move comes as Huhtamaki navigates what it recently described as a "volatile environment," having reported a slight decrease in sales and operating profit for the first half of 2025.
Huhtamaki has used similar debt management strategies in the past, including tender offers in 2017 and 2023.
The company noted that the announced figures are indicative and that final results would be released later on Tuesday.
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Finnish packaging company Huhtamaki has completed a debt buyback for notes maturing in 2026 and 2027 as part of a broader refinancing plan.
Finnish packaging company Huhtamaki said on Monday it plans to issue new debt and buy back some of its existing notes, a move to refinance its obligations amid a challenging market.