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General

Numericable-SFR places USD 5.19 bln high-yield bond

Thursday 7 April 2016 | 10:19 CET | News
Altice subsidiary Numericable-SFR has placed USD 5.19 billion of 10-year, 7.375 percent senior secured notes with institutional investors and will partly use proceeds to repay USD 2.4 billion of existing debt maturing in May 2019. The average maturity of the capital structure is expected to be materially extended from 5.8 years to 7.9 years, strengthening SFR's liquidity profile. SFR now has no material debt repayments due until 2022. The weighted average cost of SFR's debt will increase marginally from 4.8 percent to 5.4 percent. Numericable-SFR said its original offering of USD 2.25 billion

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Categories: General
Companies: Altice Europe / Numericable-SFR
Countries: France
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