Roadshows have begun for Eurotunnel's ABS issue following the successful completion of a tender offer for old loans.

Eurotunnel, which manages the cross-channel rail link between the UK and France, will issue bonds early in December. The securities will be underwritten by Dresdner Kleinwort Benson (DrKB) and Merrill Lynch, which executed the debt buy-back through special purpose company Junior Debt Holdings.