MONDI Signs New €750 Million Revolving Credit Facility
South Africa, Apr 15, 2011 - Mondi is pleased to announce the signing of a new €750 million, 5-year revolving multicurrency credit facility to refinance its existing €1.55 billion credit facility that was due to mature in June 2012. This completes the refinancing of its €1.55 billion facility that was partially refinanced via Mondi’s inaugural €500 million 7 year Eurobond in March 2010.
The facility was self-arranged with a club of 10 relationship banks. The Mandated Lead Arrangers are : Barclays Capital, BNP Paribas, Citi, Commerzbank AG, Deutsche Bank AG, Erste Group Bank AG, Société Générale Corporate & Investment Banking, Raiffeisen Bank International AG, The Royal Bank of Scotland plc and UniCredit.
Andrew King, Mondi’s Chief Financial Officer, said:
“We are delighted with the confidence shown in the Mondi Group by our relationship banks through this new facility. The success of this transaction further strengthens the Group by extending our debt maturity profile and provides us with additional financial flexibility.”
Mondi is an international paper and packaging Group, with production operations across 31 countries and revenues of €6.2 billion in 2010. The Group's key operations are located in central Europe, Russia and South Africa and as at the end of 2010, Mondi employed 29,000 people.
Mondi is fully integrated across the paper and packaging process, from the growing of wood and the manufacture of pulp and paper (including recycled paper), to the conversion of packaging papers into corrugated packaging, industrial bags and coatings.
The Group is principally involved in the manufacture of packaging paper, converted packaging products and uncoated fine paper (UFP).
Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker code MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker code MNDI. The Group has been recognised for its sustainability through its inclusion in the FTSE4Good UK, Europe and Global indices in 2008, 2009 and 2010 and the JSE's Socially Responsible Investment (SRI) Index in 2007, 2008, 2009 and 2010.