Italian telecoms operator Wind Telecom has obtained a waiver to raise a €800m bridge loan for funding 4G auction bids, Dow Jones reports quoting people familiar with the situation.
The one-year bridge will be refinanced through a bond issue. Banks are…
Italian telecoms operator Wind Telecom has obtained a waiver to raise a €800m bridge loan for funding 4G auction bids, Dow Jones reports quoting people familiar with the situation.
The one-year bridge will be refinanced through a bond issue. Banks are expected to be appointed shortly.
RBS was agent on the waiver.
According to the reports, more than the 66.66% required minimum of lenders consented to the waiver.
Earlier this week telecoms regulator Agcom launched the sale of 4G spectrum in Italy, inviting requests to participate in the upcoming auction for the right to use the country’s 800MHz, 1800MHz, 2000MHz and 2600 MHz frequency bands. Italy is seeking to raise at least E3.1bn from the frequencies sale.
Wind Telecom is owned by VimpelCom Ltd.
The company was not immediately available for comments.
