Shearman & Sterling advised J.P. Morgan, Citigroup and Eurobank on WIND Hellas’ high yield bond offering, the first such offering after the company’s debt restructurings in 2009 and 2010. The offering comprised €250 million, 10% senior secured notes due 2021 issued by WIND Hellas’s direct parent, Crystal Almond S.à r.l. The proceeds of the offering will be used to refinance existing indebtedness of the WIND Hellas group, to pay fees and expenses related to the offering and for general corporate purposes, including capital expenditure investments.
WIND Hellas is one of the three major integrated communication providers in Greece with a proprietary mobile network. WIND Hellas offers mobile and fixed-line telecommunication and high-speed Internet services under a unified brand and on a national basis to over 3.6 million mobile pre-paid, mobile post-paid and fixed-line services subscribers.