Largest European HY bond since crisis began set to price

Italian mobile phone operator Wind Telecomunicazioni is set to price its Eu2.7bn equivalent eight year non-call four bond this week. The guidance is that the yield for both the Eu1.25bn euro tranche and $2bn dollar tranche will be between 12.25% and 12.5%. Read EuroWeek this week for more details and the market’s reaction to the biggest high yield bond in Europe since the start of the financial crisis began.