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General

Altice France completes EUR 975 mln bond issue

Wednesday 16 September 2020 | 09:57 CET | News
Altice France has successfully completed the bond issue announced yesterday, noting that there had been significant excess demand. The offering consisted of EUR 500 million of 8.25-year senior secured notes (4.125% coupon), and USD 475 million of 8.25-year senior secured notes (5.125% coupon).

Parent company Altice Europe said that this refinancing transaction would generate annual interest savings of EUR 33 million on a pro forma basis, through a reduction of the average cost of debt. The average debt maturity of the group is now 6.2 years, with no major maturities before 2025.

The bond issue will be mainly used to repay debt under the existing Altice Corporate financing facility, with a portion (EUR 150 million) becoming available to refinance amounts outstanding under the revolving credit facilities of Altice France.


 



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Categories: General
Companies: Altice Europe / Altice France
Countries: France
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