Sappi, the world’s largest maker of fibres made from wood pulp, has called off a sale of €250m (about R5bn) worth of senior five-year notes, citing the current state of markets and a strong balance sheet.

The group had announced the sale on Thursday, but said on Friday current market conditions were “unsatisfactory”.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now