South African paper maker, Sappi, is planning to repurchase $150 million in debt, Reuters reports. The senior notes will mature in June 2012. Sappi, which had $2.43 billion in debt in December quarter of 2010, is seeking to reduce it to $2 billion by 2012, adds Engineering News. The company has also reported earnings per share of 7 U.S. cents for the December quarter.

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