Mondi signs extension of its existing €750M revolving credit facility, to 2019 from 2016, and reduces cost of the funding; agreement includes option to extend the facility for another year, with each bank's approval
JOHANNESBURG and LONDON
July 14, 2014
– Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
(Incorporated in England and Wales)
(Registered number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc (together 'Mondi Group' or `Mondi') notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure and Transparency and Listing Rules of the United Kingdom Listing Authority.
MONDI signs extension of its EUR750 million revolving credit facility
Mondi is pleased to announce the signing of an Amendment and Restatement Agreement that extends the maturity date of its existing EUR750 million revolving credit facility from 2016 to 2019 and reduces the cost of the funding. The Agreement includes an option to extend the facility for an additional year at both the first and second anniversary of the Agreement with each bank's approval.
The facility was self-arranged with the existing 10 relationship banks. The Mandated Lead Arrangers are: Barclays Bank plc, BNP Paribas, Commerzbank AG, Deutsche Bank AG, DNB Bank ASA, Erste Group Bank AG, HSBC Bank Plc, Raiffeisen Bank International AG, The Royal Bank of Scotland plc and UniCredit Bank Austria AG.
Andrew King, Mondi's Chief Financial Officer, said: "We are delighted with the confidence shown in the Mondi Group by having all our relationship banks agree to continue their support for the next five years. This transaction reinforces the financial strength of the Group by extending our debt maturity profile in a cost effective manner."
Mondi is an international packaging and paper Group, employing around 26,000 people in production facilities across 31 countries. In 2013, Mondi had revenues of EUR6.5 billion and a ROCE of 15.3%. The Group's key operations are located in central Europe, Russia, the Americas and South Africa.
The Mondi Group is fully integrated across the packaging and paper value chain - from the management of its own forests and the production of pulp and paper (packaging paper and uncoated fine paper), to the conversion of packaging paper into corrugated packaging, industrial bags, extrusion coatings and release liner. Mondi is also a supplier of innovative consumer packaging solutions, advanced films and hygiene products components.
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's performance, and the responsible approach it takes to good business practice, has been recognised by its inclusion in the FTSE4Good Global, European and UK Index Series (since 2008) and the JSE's Socially Responsible Investment (SRI) Index since 2007.
Sponsor in South Africa: UBS South Africa (Pty) Ltd