Altice raises more than 2.5 billion with bonds

Altice originally intended to raise 1.5 billion euros, but the company increased issuance following strong demand from investors. It concerns a bond loan of 2 billion euros with a term to January 2028 and a coupon of 3.375 percent, plus a loan of 550 million euros that runs until January 2025 with a coupon of 2.50 percent.

According to Altice, this is the lowest interest rate on Altice France debt ever. The refinancing must result in an annual saving on interest payments of more than 65 million euros. No more bonds with Altice France and Altice Luxembourg are due to expire before 2025. Altice’s objective is to reduce the total annual interest costs of the group by 700 million euros over the next two years, by reducing interest rates and paying off debt.

The debt position of Altice is closely monitored by investors, after the company made several acquisitions that it financed with borrowed money. As a result, the debt rose sharply.

You might also like More from author

Comments are closed.