Wind Telecom to sell €250 million blended rate nine-year notes this week via ABN, DB

By Paul A. Harris

St. Louis, Dec. 19 - Art Five BV, Inc., a special purpose vehicle for Italy's Wind Telecommunications, plans to sell €250 million equivalent of nine-year blended-rate senior secured notes (implied ratings B1/B+) on Thursday, according to market sources.

The notes will mature in 2014.

The blended rate is anticipated to be three-month Euribor plus 300 basis points until 2013 and three-month Euribor plus 325 basis points until 2014.

ABN Amro and Deutsche Bank Securities are joint bookrunners.

Proceeds will be used to support the acquisition of Wind by Weather Investment.

Wind is a fixed-line and mobile telecommunications company based in Rome, Italy.

In November Wind Acquisition Finance SA priced approximately €1.25 billion of 10-year senior notes (B3/B-) in two tranches, including an €825 million issue at par to yield 9¾% and a $500 million issue at par to yield 10¾%.

Proceeds from that transaction were also used to support the acquisition.

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