Luxembourg's Lecta to sell €590 million fixed-, floating-rate notes

By Paul A. Harris

Portland, Ore., April 30 - Luxembourg-based Lecta SA plans to start a roadshow on Tuesday in London for a €590 million two-part offering of notes, according to a market source.

The deal features tranches of six-year floating-rate notes, which come with two years of call protection, and seven-year fixed-rate notes, which come with three years of call protection.

Joint bookrunner Deutsche Bank AG will bill and deliver for the Rule 144A and Regulation S for life deal. Credit Suisse and Morgan Stanley are also joint bookrunners.

Moody's Investors Service assigned a provisional B1 rating to the notes.

The coated paper manufacturer plans to use the proceeds to refinance debt.

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