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.
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.