Wind to refinance with new borrowings; subsidiary may issue notes

By Angela McDaniels

Tacoma, Wash., March 6 – Wind Telecomunicazioni SpA announced a series of refinancing transactions that includes a new €400 million revolving credit facility, the paydown of its existing credit facilities and a possible issue of notes.

The company plans to prepay a portion of its senior facilities with the proceeds of the sale of a 90% stake in its tower subsidiary Galata to Abertis Telecom Terrestre SAU and to refinance the remaining portion of the facilities with borrowings from a new amended and restated senior facilities agreement and an intercompany loan from subsidiary Wind Acquisition Finance SA.

Wind Acquisition Finance is considering its financing options for funding the intercompany loan. Those options may include accessing the international capital markets, including through the issuance of senior secured notes.

Wind Telecomunicazioni is a Rome-based wireless, fixed-line telecom and internet provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.