Luxembourg Stock Exchange Lists Europe’s Largest High-Yield Bond For The Year To Date

On 24 April 2014, the Luxembourg Stock Exchange admitted to trading on its Euro MTF market a high yield bond with an issue amount equivalent to EUR 3.75 billion, the largest amount this year for such bonds.

Issued by Wind Acquisition Finance, a Luxembourg-based wholly-owned subsidiary of Italian telecom company, Wind Telecomunicazioni, the issue was composed of two notes denominated in euros and US dollars, for amounts of EUR 1.75 billion and USD 2.8 billion respectively. The notes will mature in 2021 and pay interest of 7% for the euro notes and 7.375% for the dollar notes.

This issue is a refinancing of the company’s existing debt, including a 2009 issue that was also listed in Luxembourg.

The Luxembourg Stock Exchange is the leading European exchange for the listing of high-yield bonds.