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LONDON - Packaging (NYSE:PKG) and paper company Mondi (LON:MNDI) Group has announced the launch of a €600 million Eurobond under its Euro Medium Term Note (EMTN) program. The 8-year bond, set to mature in May 2033, carries a coupon rate of 3.75% and is expected to close on March 18, 2025.
The proceeds from the bond issuance will be allocated towards general corporate purposes. Mondi’s move to extend its debt maturity profile and enhance its liquidity position was well-received by a broad base of European investors, according to the company’s Chief Financial Officer, Mike Powell.
The Eurobond will be listed on the London Stock Exchange’s regulated market, with BNP Paribas (OTC:BNPQY), Commerzbank (ETR:CBKG), Deutsche Bank, SEB, and UniCredit serving as joint book-runners for the issue. The EMTN program under which the bond is issued holds a Baa1 rating from Moody’s and an A- rating from Standard & Poor’s.
This financial maneuver comes after Mondi reported revenues of €7.4 billion and underlying EBITDA of €1.0 billion in 2024. The company, a FTSE100 constituent listed on the London Stock Exchange (LON:LSEG) (LSE:MNDI) and also on the JSE Limited (JSE:MNP), is recognized as a global leader in sustainable packaging and paper solutions.
The announcement is targeted at investment professionals and high net worth companies in the United Kingdom (TADAWUL:4280) and other eligible jurisdictions, excluding the United States or U.S. persons as defined in Regulation S under the U.S. Securities Act of 1933.
Mondi emphasizes its commitment to sustainability, focusing on circular-driven solutions, and is known for employing 22,000 people across more than 30 countries. The information regarding the Eurobond launch is based on a press release statement issued by the company.
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