Mondi moves towards refinancing debt with EUR 500m bond issue

Investors in the bond will receive interest of 5.75% when it matures in April 2017, the company said in a statement yesterday.

Modi has a EUR 1.55bn revolving credit line which matures in June 2012, although it said in February that it planned to refinance the facility “well ahead of this date”.

Mondi chief financial officer Andrew King said: “The success of this transaction further strengthens the group by diversifying our sources of funding and extending our debt maturity profile.”

Barclays, Citigroup, BNP Paribas and Royal Bank of Scotland Group have been appointed to sell the bonds.

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