Debt issuance

On 5 March 2018, Ence issued €160m of convertible bonds due 2023. The bonds carry a fixed annual coupon of 1.25%, payable semi-annually, and are convertible into shares of the Company, at the option of the bondholders, at conversion price of €7.5517 per share (adjusted on 1 July 2020).

The proceeds were used to fund the early and voluntary redemption on 1 June 2018 of the €250m of bonds issued on 30 October 2015.

The convertible bonds are traded on the Frankfurt stock exchange. For more information CLICK HERE

Senior Unsecured Convertible Bond

Issuer
Ence Energía y Celulosa S.A.
Issuance date
05/03/2018
Quantity
160.000.000€
Type
Senior Unsecured
Coupon
1,250%
Conversion price
7.5517 €/Share
Maturity
05/03/2023
Market
Frankfurt stock Exchange
ISIN Code
XS1783932863

Corporate rating

Ence’s current issuer rating is as follows:

Credit rating agency
Rating
Outlook
Date
S&P
BB-
Stable
24/11/2020
Moody's
Ba3
Stable
10/03/2020

Documentation