Germany's WEPA offers €250 million seven-year secured notes

By Paul A. Harris

Portland, Ore., April 29 - Germany's WEPA Hygieneprodukte GmbH began a roadshow on Monday for a €250 million offering of seven-year senior secured notes (B2/BB-/), according to market sources.

Deutsche Bank and HSBC are managing the sale.

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

The Arnsberg, Germany-based manufacturer of toilet paper, napkins, kitchen towels, handkerchiefs and facial tissues plans to use the proceeds to refinance debt and to help fund the acquisition of Marsberger Kraftwerksgesellschaft.

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