By Paul A. Harris
St. Louis, Feb. 15 - Wind Acquisition Finance, a unit of Italy's Wind Telecomunicazioni, priced a €250 million equivalent two-part add-on to its senior notes due Dec. 1, 2015 (existing B3/existing B-/confirmed B) on Wednesday, according to market sources.
The company priced a €125 million add-on to its 9¾% euro-denominated notes at 106.0 resulting in a yield of 8.67%. The dollar price came on top of the talk, which had been revised from the 105.50 area.
Wind also priced a $125 million add-on to its 10¾% dollar-denominated notes at 105.50 to yield 9.72%. The dollar price came on top of the price talk.
Deutsche Bank Securities, ABN Amro and Banca IMI were joint bookrunners.
Proceeds will be used to repay bank debt.
The company priced €825 million and $500 million, both at par, on Nov. 22, 2005. Hence following Wednesday's transaction the euro-denominated issue size stood at €950 million, and the dollar-denominated issue size stood at $625 million.
The telecommunications company is based in Rome.
| Issuer: | Wind Acquisition Finance SA (Wind Telecomunicazioni)
|
| Amount: | €250 million equivalent
|
| Maturity: | Dec. 1, 2015
|
| Security description: | Add-on to the senior notes
|
| Bookrunners: | Deutsche Bank Securities, ABN Amro, Banca IMI
|
| Trade date: | Feb. 15
|
| Settlement date: | March 31 with accrued interest
|
| Ratings: | Moody's: B3 (existing)
|
| Standard & Poor's: B- (existing)
|
| Fitch: B+
|
|
|
| Euro-denominated tranche
|
| Amount: | €125 million
|
| Coupon: | 9¾%
|
| Price: | 106.0
|
| Yield: | 8.67%
|
| Call: | First call in 2010
|
| Price talk: | 106.0 revised from 105.50 area
|
| Total issue size: | €950 million
|
|
|
| Dollar-denominated tranche
|
| Amount: | $125 million
|
| Coupon: | 10¾%
|
| Price: | 105.50
|
| Yield: | 9.72%
|
| Call: | First call in 2010
|
| Price talk: | 105.50 area
|
| Total issue size: | $625 million
|
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