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Wind Sets Pricing On EUR500 Million Equivalent High Yield Bond

LONDON -(Dow Jones)- Wind Telecomunicazioni Spa, through Wind Acquisition Finance SpA, set price guidance on a EUR500 million equivalent dual-currency bond maturing February 2018, one of the banks on the deal said Wednesday. For the euro-denominated, 7.325% bond, price guidance is between 90 and 91 of face value. For the dollar-denominated, 7.25% bond, price guidance is between 92 and 93 of face value. Books are closing in the morning for the euro-denominated tranche, and in the afternoon for the dollar tranche. The EUR500 million senior secured bond, denominated in dollars and euros, has the same terms as the company's existing 7.375% (in euros) and 7.25% (in dollars) February 2018 bond. But as the new notes will not be interchangeable with the old ones, the issue is called a "mirror" issue and is not a "tap." Deutsche Bank AG, BNP Paribas SA, Banca IMI SpA, Barclays PLC, Credit Suisse, ING Bank NV and Societe Generale SA are lead managers of this issue, which is expected to price Wednesday. Wind Telecomunicazioni SpA is owned by Russian telecommunication operator Vimpelcom Ltd. (VIP) The bond will be used to partially repay a bridge loan the company had with a group of banks, and for general corporate purposes. Ratings are Ba3 from Moody's Investors Service Inc. and BB from Standard & Poor's Corp. -By Serena Ruffoni, Dow Jones Newswires, +44 (0) 207 842 9349; serena.ruffoni@dowjones.com

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