Wind cuts €200m of interest with HY refi

By Stefanie Linhardt
10 Apr 2014

Wind Telecomunicazioni priced its €3.75bn-equivalent high yield bond issue on Tuesday, in a deal that should save it €200m of interest payments a year, according to a banker, by allowing it to repay older, higher-paying bonds.

The Italian telecoms company, well known to European and US high yield investors, raised two unsecured seven year bonds: €1.75bn with a 7% coupon and $2.8bn at 7.375%.

“It was the biggest differential in price [between euros and dollars] for several years,” said a banker close to the ...

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