Mondi PLC has successfully launched a 500 million, 8-year Eurobond, with the proceeds to be used for general corporate purposes. The Eurobond, maturing in May 2032, has a coupon of 3.75% and will be admitted to trading on the London Stock Exchange's regulated market. The joint book-runners for the issue were Barclays, BBVA, BofA Securities, Erste Group, and Raiffeisen Bank International. The Eurobond will be issued under Mondi's Euro Medium Term Note (EMTN) program, rated Baa1 by Moody's and A- by Standard and Poor's.
Mike Powell, CFO of Mondi Group, expressed satisfaction with the successful launch, stating, "We are pleased to have successfully launched a 500 million Eurobond today, which was supported by a wide range of European investors. This bond will extend our debt maturity profile and further strengthen the Group's liquidity position."
The announcement emphasized that the communication is directed only at relevant persons and not for distribution in or into the United States or for the account or benefit of U.S. persons. It also highlighted that the Eurobond will be engaged in only with relevant persons.
Mondi is a global leader in packaging and paper, operating in more than 30 countries and employing 22,000 people. The company's strategy is centered around sustainability, with ambitious commitments to 2030 focused on circular driven solutions and taking action on climate. In 2023, Mondi had revenues of 7.3 billion and underlying EBITDA of 1.2 billion. The company has a premium listing on the London Stock Exchange (MNDI) and a secondary listing on the JSE Limited (MNP).
For further information, the Group Head of Investor Relations and Group Treasurer can be contacted.
Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.