(Alliance News) - Mondi PLC on Friday said it signed a new EUR750 million 5-year revolving multi-currency credit facility agreement linked to its 2030 sustainable development goals.
The new facility will be used to refinance the existing EUR750 million facility that was due to mature in July 2022, the Addlestone, England-based paper and packaging firm said.
Chief Financial Officer Mike Powell said: "We are pleased to align our financing to our sustainability framework. Sustainability is at the centre of our purpose, culture and strategy to drive value accretive growth for the benefit of all our stakeholders. The Group’s financial position remains strong. The RCF will extend our debt maturity profile and reinforces the strong relationships we have with our banking partners."
Under the terms of the agreement, the margin will be adjusted according to the group's performance against its sustainability targets.
The facility was self-arranged with 10 relationship banks, including Barclays PLC, BBVA, Bank of America Corp and BNP Paribas SA.
Mondi shares were up 0.7% at ZAR368.78 each in Johannesburg on Friday morning, and were up 0.1% in London at 1,916.00 pence each.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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