Altice France preps bond refi after Drahi’s take-private offer

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By Owen Sanderson
15 Sep 2020

Altice France is marketing a €900m equivalent eight year bond across dollars and euros, coming hot on the heels of Friday’s announcement that Patrick Drahi, the billionaire owner of the telecoms group, was trying to take Altice Europe private.

The new senior secured bond issue will refinance Altice France’s revolving credit facility and repay the Altice Corporate Financing loan facility, likely cutting the group’s debt cost, while increasing secured leverage at Altice France.

The timing shows some chutzpah. Friday’s announcement that Drahi, who already owns more ...

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