Mondi issues 8-year Eurobond
Paper and packaging firm Mondi has raised half a billion euros through the issue of a Eurobond, due to mature in September 2020.
Paper and packaging firm Mondi has raised half a billion euros through the issue of a Eurobond, due to mature in September 2020.
A Eurobond is an international bond which is denominated in a currency other than those native to the country where it is issued.
Proceeds from the sale of the bonds, which carry a coupon of 3.375%, will be used for general corporate purposes.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Andrew King, Mondi's Chief Financial Officer, said: "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."
The Eurobond will be issued under Mondi 's European Medium Term Note programme, which is rated Baa3 by Moody's and BBB- by Standard and Poor's.
Mondi's share price rose 0.56% to 626.50p by 08:16.
NR
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published