MONDI PLC Mondi has signed a new €750 million 5-year revolving multicurrency credit facility agreement ('RCF') to refinance the existing €750 million 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 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. MAP2030 is designed to tackle global issues across the value chain with commitments focused on three action areas: circular-driven packaging and paper solutions, created by empowered people, taking action on climate. All areas are aligned with the UN Sustainable Development goals as part of Mondi's focus on being sustainable by design.
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.
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.
Contact
James Paterson
Group Treasurer
+44 193 282 6340
Clara Valera
Group Head of Strategy and Investor Relations
+44 193 282 6357
Suvra Jans
Senior Media Relations Manager
+44 1932 826 333
About MAP2030
MAP2030 (Mondi Action Plan 2030) sets out the actions we will take to meet our ambitious 2030 sustainability goals. We believe that by focusing on circular driven solutions, created by empowered people, taking action on climate we will have the most positive impact.
MAP2030 is built on a foundation of responsible business practices spanning business ethics and governance, human rights, communities, procurement and environmental impact. Each area has commitments and targets to guide our action, including work on human rights due diligence; ongoing investment in our communities; 100% responsible sourcing of wood fibre; and air emission and water targets to minimise our environmental impact.
For more information please visit: www.mondigroup.com/MAP2030
About Mondi
Mondi is a global leader in packaging and paper, contributing to a better world by making innovative packaging and paper solutions that are sustainable by design. Our business is integrated across the value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is at the centre of our strategy and intrinsic in the way we do business. We lead the industry with our customer-centric approach, EcoSolutions, where we ask the right questions to find the most sustainable solution. In 2020, Mondi had revenues of €6.66 billion and underlying EBITDA of €1.35 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.
Sponsor in South Africa: UBS South Africa Proprietary Limited.
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Mondi plc published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 08:56:01 UTC.
