7th Apr 2016 15:02
LONDON (Alliance News) - Mondi PLC, the FTSE 100 international packaging and paper company, on Thursday said it is raising money with a EUR500 million, eight-year Eurobond, with the proceeds to be used for "general corporate purposes".
The Eurobond matures in April 2024, has a coupon of 1.5%, and an application will be made for it to be listed on the London Stock Exchange. The joint book-runners for the issue are BNP Paribas, Commerzbank, Deutsche Bank, HSBC and UniCredit. The issue is due to close on Thursday, April 14.
The Eurobond will be issued under Mondi's European Medium Term Note programme, which is rated Baa2 by Moody's and BBB by Standard and Poor's.
"We are delighted with the support for our bond issue from a wide group of European Institutional investors. The success of this transaction further strengthens the group by extending our debt maturity profile and reflects Mondi's consistent and focussed long term strategy, robust business model and high-quality, low-cost asset base," Chief Financial Officer Andrew King said in a statement.
Shares in Mondi were down 1.3% at 1,267.00 pence on Thursday in London.
By Samuel Agini; [email protected]; @samuelagini
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