Italy's Wind plans 2.5 bln euro bond-paper

MILAN, June 3 (Reuters) - Italian telecoms operator Wind is sounding out investors on a bond issue of up to 2.5 billion euros ($3.5 billion) aimed a refinancing part of its debt, Italian daily Il Messaggero said on Wednesday.

Owned by Egyptian billionaire Naguib Sawiris, Wind could use the proceeds raised from the issue also to increase its dividend as well, the newspaper said in an unsourced report.

Wind had a net debt of more than 6 billion euros at the end of March.

Deutsche Bank and Credit Suisse are working on the operation, it said. The issue could be launched at the end of the month, depending on investors' interest.

Sawiris is chairman and controlling shareholder of Egyptian phone group Orascom (ORTE.CA).

A Wind spokesman was not immediately available for comment. ($1=.7035 Euro) (Reporting by Danilo Masoni; Editing by Hans Peters)