Debtors Bid for Wind Hellas

Subordinated bond holders in Hellas make €450 million bid for the Greek mobile telecom company

November 23, 2009

1 Min Read

LONDON -- The Committee of Subordinated Bond Holders in Hellas II, the holding company for the Greek based Wind Hellas telephony company, has today tabled a new, full and binding EUR450 million offer for the assets of Hellas II.

Earlier this week proceedings were commenced to put Hellas II into administration, following announcements from the company's management that Hellas faced problems with its business model and financing. The previous bid by the Committee which was tabled in October, was dismissed by the senior bond holders, Hellas II and by implication Weather which is the incumbent owner and currently the selected preferred bidder of the management of Hellas II

In raising EUR450 million in funding at both the senior and junior end of the capital structure in a short period of time, the Committee has clearly demonstrated that it has the capacity to effect a refinancing of the entire capital structure when it falls due for payment

Wind Hellas

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