IFLR1000

Altice Finance $2.75 billion 7.5% high yield issue

19/4/2016
High-yield bond/note issue
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$ 2.75 billion

Completed

19/4/2016

Overview:

  • Altice Group, through Altice Finance, has issued $2.75 billion in high yield notes.
  • The 7.5% notes are due in 2026.
  • The proceeds will be used to refinance debt including: $460 million in senior secured notes due 2019, €210 million senior secured notes due 2019, a $1.013 billion term loan and €855 million in term loans.
  • Goldman Sachs and Morgan Stanley acted as global coordinators and joint bookrunners.
  • Crédit Agricole, Credit Suisse Securities and Deutsche Bank acted as joint bookrunners.
  • The issuer is a European telecommunications company.

Rani Mehta - Journalist 

Jurisdictions:

United States
Luxembourg
Switzerland

Deal type:

High-yield bond/note issue

Practice area:

Capital markets : Debt

Industry sector:

Technology and telecommunications

Firms:
Cuatrecasas

Party: Goldman Sachs (Joint bookrunner, Global coordinator)

Party: Morgan Stanley (Joint bookrunner, Global coordinator)

Party: Credit Agricole (Joint bookrunner)

Party: Credit Suisse (Joint bookrunner)

Party: Deutsche Bank (Joint bookrunner)

Latham & Watkins

Party: Goldman Sachs (Global coordinator, Joint bookrunner)

Party: Morgan Stanley (Global coordinator, Joint bookrunner)

Party: Credit Agricole (Joint bookrunner)

Party: Credit Suisse (Joint bookrunner)

Party: Deutsche Bank (Joint bookrunner)

Lawyers: Dan Maze, Scott Colwell

Luther

Party: Altice (Issuer)

Lawyer: Eric Sublon

Pestalozzi

Party: Goldman Sachs (Global coordinator, Joint bookrunner)

Party: Morgan Stanley (Global coordinator, Joint bookrunner)

Party: Crédit Agricole (Joint bookrunner)

Party: Credit Suisse (Joint bookrunner)

Party: Deutsche Bank (Joint bookrunner)

Lawyers: Oliver Widmer, Sébastien Roy

Ropes & Gray

Party: Altice (Issuer)

Lawyer: Michael Kazakevich

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