LONDON (dpa-AFX) - Mondi plc (MNDI.L), a packaging and paper company, announced Friday that it has signed a new 750 million euros 5-year revolving multicurrency credit facility agreement or RCF to refinance the existing 750 million euros facility that was due to mature in July 2022.
It includes an option to extend the RCF by one or two years with each bank's approval.
The company noted that the RCF incorporates key sustainability targets linked to MAP2030 (Mondi's Action Plan to meet its ambitious 2030 sustainability goals), classifying the facility as a Sustainability Linked Loan.
Under the terms of the agreement, the margin will be adjusted according to the Group's performance against specified sustainability targets. The facility was self-arranged with 10 relationship banks: Barclays, BBVA, Bank of America, BNP Paribas, Commerzbank, Deutsche Bank, Erste Group, Raiffeisen Bank International, SEB and UniCredit.
Mike Powell, Mondi's Chief Financial Officer, said, '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.'
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