(Bloomberg) -- Egyptian billionaire Naguib Sawiris
faces opposition from hedge fund Arx Investment Management to his
plan to refinance about 8 billion euros ($11 billion) of debt at
Wind Telecommunicazioni SpA.
Arx is protesting because Wind, Italy's third-biggest mobile
phone company, is increasing the amount of senior loans that rank
before bonds for repayment. Rome-based Wind said it will
compensate bondholders by paying them 4 percent of their
investment, an offer that will be cut to 2 percent after July 10.
Read more at Bloomberg Bonds News
faces opposition from hedge fund Arx Investment Management to his
plan to refinance about 8 billion euros ($11 billion) of debt at
Wind Telecommunicazioni SpA.
Arx is protesting because Wind, Italy's third-biggest mobile
phone company, is increasing the amount of senior loans that rank
before bonds for repayment. Rome-based Wind said it will
compensate bondholders by paying them 4 percent of their
investment, an offer that will be cut to 2 percent after July 10.
Read more at Bloomberg Bonds News
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