Wind Telecomunicazioni to sell €2.7 billion equivalent eight-year notes in two parts Wednesday

By Paul A. Harris

St. Louis, June 29 - Wind Acquisition Finance SA, a financing unit of Italy's Wind Telecomunicazioni SpA, plans to sell €2.7 billion equivalent of eight-year senior notes (B2/expected BB-) on Wednesday, according to an informed source.

The deal will include dollar-denominated and euro-denominated notes. Tranche sizes remain to be determined.

Deutsche Bank Securities Inc., Credit Suisse and Banca IMI are joint global coordinators and lead bookrunners. BNP Paribas Securities Corp., Calyon Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities Inc., MPS, RBS Securities Inc. and UniCredit are joint bookrunners.

Banca Akros, ING, Mediobanca, Banc of America Securities LLC and Natixis Bleichroeder Inc. are co-managers.

The notes will come with four years of call protection.

Proceeds will be used to refinance €2 billion of payment-in-kind loans due 2011 and to fund a dividend to Weather Investments SpA, the holding company that acquired Wind in 2005.

Wind is based in Milan, Italy.

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