News Column

Mondi Extends Revolving Credit Facility, Reduces Funding Costs

July 14, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Packaging and paper company Mondi PLC Monday said it has extended its EUR750 million existing revolving credit facility to 2019 from 2016, and has reduced the cost of funding.

The company said the agreement also 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, said Mondi.

"This transaction reinforces the financial strength of the group by extending our debt maturity profile in a cost effective manner," said Chief Financial Officer Andrew King in a statement.

Mondi shares were up 0.6% at 1,030.00 pence Monday morning.

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Source: Alliance News

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