Altice Europe: to simplify group capital structure

(CercleFinance.com) - European telecoms group Altice Europe on Friday announced a three-part transaction to simplify the group's capital structure.


The company, which is controlled by Patrick Drahi, said it has successfully priced and allocated 1.6 billion euros of 8-year euro and dollar senior notes maturing in 2028, at an average cost of 4%.

The phone operator has also launched 500 million euros of 5-year euro senior notes maturing in 2025 with a coupon of 2.1%, its lowest coupon ever.

Separately, Altice Europe plans to offer to exchange Altice Luxembourg 2027 senior notes for senior notes at Altice France.

Separately, Altice Europe plans to offer to exchange Altice Luxembourg 2027 senior notes for senior notes at Altice France.

*Following the transaction, Altice Europe will remove its Altice Luxembourg holding, resulting in a group capital structure with direct access to cash flows from two distinct, funding pools: Altice France and Altice International, the group said.

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