Altice Europe allocates EUR900m new senior secured notes at Altice France

16 Sep 2020

Altice Europe has successfully priced and allocated EUR900 million (USD1.07 billion) of new 8.25-year senior secured notes at Altice France, following ‘significant excess demand’. This consists of EUR500 million of senior secured notes with a coupon of 4.125% and USD475 million of senior secured notes with a coupon of 5.125%. The proceeds from this transaction will be used to repay the current outstanding amount under the Altice France revolving credit facility of USD150 million, while the remaining proceeds of EUR750 million will be used to partly repay the Altice Corporate Financing facility. Following this transaction, the average maturity for the Altice Europe debt capital structure is 6.2 years, with no major maturities for Altice Europe before 2025.