Global law firm White & Case LLP has advised Wind Tre S.p.A. on its €7.3 billion issuance of high yield senior secured notes, in a combination of euro-denominated fixed and floating rate notes and dollar-denominated fixed rate notes, issued pursuant to Rule 144A and Regulation S under the Securities Act, and on a new €3.4 billion senior facilities agreement consisting of a €3 billion amortizing term loan and a €400 million revolving credit facility.
The Firm also advised Wind Tre, a leading integrated mobile operator in the Italian telecommunications market, on related interest rate and cross-currency hedging arrangements.
It is the third largest cross-border high yield financing ever with 20 international banks participating as bookrunners. The issuance represents the largest single issuance of euros by a single borrower. In addition, the floating rate notes are one of the largest such tranche ever issued.
The White & Case team which advised on the transaction was led by partners Chris Utting, Rob Mathews, Ben Wilkinson, Ingrid York (London), Michael Immordino (Milan & London), Iacopo Canino (Milan) and Ray Simon (New York) and partner elect James Greene (London), with support from associates Helen Steininger, Richard Blackburn, Deborah Kelly, Brian Dearing, Alberto Pacchioni (all London) Stefano Bellani, Adriana Tisi (both Milan) and Shea Thompson (New York), and lawyers Valerio Marotta (Milan) and Maria Yoo (London).
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