Altice gears up for 5G fight with leverage-cutting refi

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Altice gears up for 5G fight with leverage-cutting refi

Patrick Drahi Altice

Telecoms giant Altice announced a €2.8bn-equivalent dual currency high yield bond on Tuesday through Goldman Sachs. Along with the proceeds of the new notes, the group will spend €1.5bn to cut group leverage — a crucial move, as telecoms firms grapple with the high capital costs of preparing for the rollout of 5G technology.

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