Altice Europe: refinances and extends part of its debt

(CercleFinance.com) - Telecoms and cable group Altice Europe has refinanced and extended the maturity of part of its debt, as part of a plan aimed at reducing its interest costs.


Altice said that it has successfully priced and allocated 2.8 billion euros of new senior secured notes, including 2.2 billion euros of 8-year euro and dollar notes maturing in 2028 with a cost of 3.06%.

As a result, the average maturity of its debt has been extended from 5.4 to 6.9 years.

The deal has enabled the company to make progress on its debt interest reduction plan, having already achieved about 330 million euros in annual savings out of its target of 700 million euros, a goal that the operator expects to exceed sooner than expected given currently low interest rates.

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