Finnish packaging company Huhtamaki has completed a debt buyback for notes maturing in 2026 and 2027 as part of a broader refinancing plan.
The company said on Tuesday it accepted for purchase 159.5 million euros of its notes due in 2026 and 125 million euros of its sustainability-linked notes due in 2027.
The amount for the 2027 notes was increased from an initial target of 100 million euros following strong investor demand.
According to the company, the offer for the 2027 notes was oversubscribed, and tenders were scaled back by approximately 37%.
The debt management exercise comes as Huhtamaki navigates what its chief executive recently described as a “volatile environment.”
For the first half of 2025, the company reported a 2% decrease in net sales and a 1% drop in adjusted operating profit, citing consumer cautiousness and geopolitical tensions.
The purchased notes will be cancelled, while any notes not tendered will remain outstanding, the company said.
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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.
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.