Sonoco announced the completion of its inaugural offering of green bonds to support the Company’s sustainability strategy. The green bonds total $1.2 billion aggregate principal amount of unsecured notes, consisting of $400 million aggregate principal amount of 1.80% Notes due 2025, $300 million aggregate principal amount of 2.25% Notes due 2027, and $500 million aggregate principal amount of 2.85% Notes due 2032. “We are proud to have successfully placed our first green bonds, one of the largest such offerings in the U.S. packaging industry,” said Julie Albrecht, Vice President and Chief Financial Officer. “Sonoco is dedicated to operating with sustainability at the forefront of our strategy and committed to making investments to expand circular economy adapted products.” Sonoco intends to allocate an amount equal to the net proceeds from the offering, together with borrowings under a new term loan facility and its commercial paper program, to fund the $1.35 billion cash consideration payable in connection with its previously announced plans to acquire Ball Metalpack, a leading manufacturer of sustainable, permanently recyclable metal packaging. The acquisition of Ball Metalpack qualifies as an Eligible Project under Sonoco’s Green Financing Framework. Further details on Sonoco’s Green Financing Framework are available on the Company’s website.
Mondi, a global leader in packaging and paper, is delighted to launch a new more sustainable sleeve packaging, created to replace conventional plastic shrink wrap around 1.5 litre sparkling soft drink multipacks produced by Coca-Cola HBC in Austria and keep them secure. Mondi’s Hug-IT, which keeps six bottles together during transportation, is made of Mondi’s Advantage SpringPack Plus, crowned by Guinness World Records as the strongest paper in the world.¹
The Hug-IT sleeve has high tensile strength and incomparable stretchability, so it can be trusted to wrap around the six bottles tightly, keeping them upright and held together during transit – from factory site, to retailer, to the consumer’s home. It will secure 1.5-liter PET multi-packs of the Coca-Cola, Fanta, Sprite and Mezzo Mix brands and will be sold in retail outlets throughout Austria. Hug-IT is an innovative solution, and Advantage SpringPack Plus is currently the only paper on the market offering such unique capabilities, being strong enough holding the bottle bundles together as final Hug-IT solution.
Advantage SpringPack Plus is 100 % kraft paper created from wood, a renewable material. The kraft paper is made with responsibly sourced fibres, and recyclable in existing paper recycling streams: paper has one of the highest recycling rates among packaging materials in Europe (82% within the EU²) and is convenient to dispose of for consumers.
The Hug-IT solution has taken three years to complete, from conception through to planning, trialling, and getting the product onto shelf. Its development involved a number of Mondi’s divisions and cross-segment collaboration, making the most of the company’s expertise in paper packing and converting and creating more sustainable, technically advanced solutions. The sleeves are engineered on automated machinery provided by Krones, a technology group and service provider for the beverage & liquid food industry, whose swift installation and close collaboration with Mondi made the process smooth and efficient. Expert teams from Mondi, Coca-Cola HBC and Krones worked closely together to meet the challenges related to required strength and stretchability of the paper.
Felix Sprenger, Supply Chain Director at Coca-Cola HBC Austria, says: “The careful use of resources and recyclable materials is one of the most important pillars in our sustainability strategy and plays a central role in the design of the sustainable packaging mix for the Austrian market. With the introduction of our new solution, which is unique in the world to date, we will be able to reduce material use by a further 200 tons of plastic per year in the future. It was a pleasure to work with Mondi and our other partners to jointly walk the talk contributing to a circular economy.”
more at: https://www.mondigroup.com/en/newsroom/press-release/2023/mondi-puts-the-fizz-into-coca-cola-hbc-austria-s-functional-packaging-solution/