Germany's WEPA upsizes to €275 million, tightens talk on seven-year secured notes to 6½%

By Paul A. Harris

Portland, Ore., May 2 - Germany's WEPA Hygieneprodukte GmbH upsized its offering of seven-year senior secured notes (B1) to €275 million from €250 million on Thursday, according to market sources.

Yield talk tightened to 6½% from earlier talk, which had the notes coming in the 6¾% area.

Terms are expected shortly.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.