France's Lecta talks €648 million two-tranche seven-year floaters

By Paul A. Harris

St. Louis, Feb. 1 - French paper manufacturer Lecta SA circulated talk on its €648 million two-tranche offering of seven-year floating-rate notes on Thursday, according to a market source.

The Paris-based company talked a €473 million tranche of senior secured notes (Ba3/BB-) at a 275 to 300 basis points spread to Euribor.

Meanwhile Lecta talked a €175 million tranche of senior unsecured notes (B1/B) at Euribor plus 425 bps area.

Deutsche Bank Securities has the books.

Proceeds will be used to repay debt.

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