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Forthnet makes non-binding bid for Wind Hellas

ATHENS, Oct 2 (Reuters) - Forthnet FORr.AT, Greece's second-largest Internet provider, said on Friday it had submitted a non-binding offer to acquire debt-laden telecom company Wind Hellas.

“This does not mean that there will be a binding offer if the non-binding one is accepted.” he company said in a bourse filing on Friday.

Forthnet did not disclose details of the offer.

Bondholders of Wind Hellas have been expected to submit offers to help restructure the company’s finances as Greece’s third-largest telecom company seeks to manage a 3.2 billion euro ($4.74 billion) debt load. [ID:nLM294867]

Wind Hellas faces a 67 million euro interest payment due Oct. 15.

Bondholders, who rank behind senior lenders in the repayment queue, are concerned a restructuring could squeeze out their holdings because 1.8 billion euros of senior debt stands in front of their claims. (Reporting by George Georgiopoulos; Editing by Hans Peters)

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