Wind to sell €4.1 billion equivalent three-part notes offering

By Paul A. Harris

Portland, Ore., June 23 – Wind Acquisition Finance SA set global investor conference calls for Monday as it undertakes to market €4,065,000,000 equivalent of senior secured notes (expected ratings Ba3/BB).

The Rule 144A and Regulation S for life deal is coming in three tranches, with target sizes as follows: a €500 million tranche of floating-rate notes, non-callable for one year, a €2.15 billion tranche of fixed-rate notes, non-callable for two years, and $1.9 billion fixed-rate notes, non-callable for two years.

Global coordinator Credit Suisse will bill and deliver for the euro-denominated tranches. Global coordinator Deutsche Bank will bill and deliver and is the physical bookrunner for the dollar-denominated tranche.

Banca IMI, Barclays, Citigroup, HSBC and SC CIB are the global coordinators for the dollar-denominated and euro-denominated fixed-rate tranches.

BNP Paribas, Credit Agricole, ING, Natixis, Alfa-Bank and UniCredit are joint bookrunners for the floating-rate tranche.

The issuer may redeem 10% of the fixed-rate notes annually at 103 during the non-call period.

The Italian telecommunications firm, a unit of Russia’s Vimpelcom, plans to use the proceeds to refinance debt.

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