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 an initial conversion price of €7.2635 per share.

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%
Initial conversion price
7,2635 €/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
Moody's
Ba2
Stable
21/06/2019
S&P
BB
Stable
27/04/2018

Documentation