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South Africa's Mondi could jack up $1.7 bln debt to fund M&A - CEO

Reuters - UK Focus

JOHANNESBURG, Feb 25 (Reuters) - South African paper packaging firm Mondi (LSE: MNDI.L - news) could jack up its 1.5 billion euro ($1.7 billion) borrowings to fund acquisitions, its chief executive said on Thursday.

"We're currently at 1.1 (times) net debt to EBITDA, I'd imagine we could probably could go north of 2 times and still be comfortable," CEO David Hathorn told Reuters in interview.

($1 = 0.9077 euros) (Reporting by Tiisetso Motsoeneng; Editing by James Macharia)