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
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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
