Paper and packaging firm Mondi has raised half a billion euros through the issue of a Eurobond, due to mature in September 2020.

A Eurobond is an international bond which is denominated in a currency other than those native to the country where it is issued.

Proceeds from the sale of the bonds, which carry a coupon of 3.375%, will be used for general corporate purposes.

Andrew King, Mondi's Chief Financial Officer, said: "We are delighted with the support for our bond issue from a wide group of European institutional investors. The success of this transaction further strengthens the group by diversifying our sources of funding and extending our debt maturity profile."

The Eurobond will be issued under Mondi 's European Medium Term Note programme, which is rated Baa3 by Moody's and BBB- by Standard and Poor's.

Mondi's share price rose 0.56% to 626.50p by 08:16.

NR

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