Spain's ENCE Energia & Celulosa starts roadshow for €250 million notes

By Paul A. Harris

Portland, Ore., Jan. 22 - Spain's ENCE Energia y Celulosa, SA began a roadshow on Tuesday in London for a €250 million offering of seven-year senior secured notes, according to a market source.

The roadshow continues in London on Wednesday, moves to Paris and Frankfurt on Thursday and to Amsterdam on Friday.

Joint bookrunner Deutsche Bank will bill and deliver. BBVA, Banesto, Bankia, Barclays and Citigroup are also joint bookrunners.

Bankinter and Banc Sabadell are the co-managers.

The Rule 144A and Regulation S notes come with three years of call protection.

The Madrid-based pulp producer and renewable energy generator plans to use the proceeds to repay debt.

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