Mondi launches €600m bond issue

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Proceeds of the 8-year Eurobond will be used for general corporate purposes, says Mondi.

Last Friday, Mondi Group has announced a launch of a €600m, 8-year Eurobond. According to Mondi, the issue is due to close on 27 April 2018 and the proceeds of the issue will be used for general corporate purposes.

The Eurobond will be issued under the company's Euro Medium Term Note programme, Mondi informed. It has a coupon of 1.625% and matures in April 2026. Mondi will make an application for the bond to be listed on the London Stock Exchange.

"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, cost-advantaged asset base," said Andrew King, Mondi's Chief Financial Officer.

Bank of America Merrill Lynch, Barclays, Erste Group, HSBC and Raiffeisen Bank International serve as the joint book-runners for Mondi's €600m bond issue.

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