LONDON - Mondi Finance plc announced Thursday it has launched a tender offer to purchase any and all of its outstanding €600 million 1.625 percent guaranteed notes due April 27, 2026, for cash.
The company is offering to buy the notes, which are guaranteed by Mondi plc, at a purchase price of 99.75 percent of their nominal amount, according to a press release statement.
The tender offer begins October 16 and will expire at 4:00 p.m. London time on October 23, 2025, unless extended, re-opened, or terminated earlier at Mondi Finance's discretion.
In addition to the purchase price, Mondi will pay accrued and unpaid interest on the notes from April 27, 2025, to the settlement date, which is expected to be October 28, 2025.
The company stated that the purpose of the offer is to "proactively manage the Offeror's balance sheet." The tender offer is conditional upon Mondi Finance's successful issuance of new euro-denominated fixed rate notes under its €3 billion Guaranteed Euro Medium Term Note Programme.
Mondi Finance intends to give preference in the allocation of the new notes to noteholders who tender their existing notes or indicate a firm intention to do so, though this is at the company's discretion and not guaranteed.
BNP PARIBAS and Merrill Lynch International are acting as dealer managers for the offer, with Sodali & Co Limited serving as the information and tender agent.
The notes purchased through the tender offer will be canceled and will not be re-issued or re-sold, according to the company.
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