Simpson Thacher Represents Initial Purchasers in €250 Million Senior Secured Notes Offering by ENCE
02.11.13
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The Firm recently represented the initial purchasers, led by Deutsche Bank AG, London Branch, in an offering of €250 million of 7.25% Senior Secured Notes due 2020 by ENCE Energía y Celulosa, S.A. (“ENCE”), guaranteed by certain of its subsidiaries.
ENCE is the largest hardwood pulp producer in Europe, providing pulp products to the tissue, packaging and to the printing and writing paper industry. ENCE also operates a biomass energy generation business and is involved in forestry supply management.
Proceeds of the offering were used to repay outstanding indebtedness of ENCE and related interest rate swaps.
The Simpson Thacher team for the transaction included Wim De Vlieger, Till Lefranc, and Federico Fruhbeck (Capital Markets) as well as Meredith Jones and Sean Fitzgerald (Tax).