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Mondi's Eurobond to provide cash stream

Mondi has launched a €500m eight-year Eurobond and the money raised will be used for general corporate purposes.

1 Oct 2012

The Eurobond matures in September 2020‚ has a coupon of 3.375%‚ and an application will be made for it to be listed on the London Stock Exchange.

The joint book-runners for the issue were Barclays‚ Deutsche Bank‚ The Royal Bank of Scotland and UniCredit.

The Eurobond will be issued under Mondi 's European Medium Term Note (EMTN) programme‚ which is rated Baa3 by Moody's and BBB- by Standard and Poor.

"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 diversifying our sources of funding and extending our debt maturity profile‚" said Andrew King‚ Mondi´s chief financial officer.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za