By Christine Van Dusen
Atlanta, Dec. 7 - Israel-focused Altice Financing SA/Altice Finco SA priced an issue of euro- and dollar-denominated notes due in 2019 and 2020, a market source said.
The deal included $450 million 7 7/8% notes due December 2019 that priced at par to yield 7 7/8%. The notes, which are non-callable for three years, were talked at 7 7/8%.
The second tranche totaled €200 million 8% notes due December 2019 that priced at par. The notes, non-callable for three years, were talked at 8%.
The $400 million 9 7/8% notes due December 2020 - which are non-callable for four years - priced at par. The notes were talked Friday at 9 7/8%.
Goldman Sachs, HSBC and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used to refinance the telecommunications company's debt and to finance the acquisition of the remaining 31% stake in Hot Mobile that Altice does not own.
Altice operates Hot Mobile, a wireless telecommunications company in Israel, and Israeli cable television company Hot.
| Issuer: | Altice Financing SA/Altice Finco SA
|
| Bookrunners: | Goldman Sachs, HSBC, Morgan Stanley
|
| Trade date: | Dec. 7
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Dollar notes due 2019
|
| Amount: | $450 million
|
| Maturity: | December 2019
|
| Coupon: | 7 7/8%
|
| Price: | Par
|
| Yield: | 7 7/8%
|
| Spread: | Treasuries plus 687 bps
|
| Call features: | Non-callable for three years
|
| Price talk: | 7 7/8%
|
|
|
| Euro notes due 2019
|
| Amount: | €200 million
|
| Maturity: | December 2019
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Spread: | Bunds plus 722 bps
|
| Call features: | Non-callable for three years
|
| Price talk: | 8%
|
|
|
| Dollar notes due 2020
|
| Amount: | $400 million
|
| Maturity: | December 2020
|
| Coupon: | 9 7/8%
|
| Price: | Par
|
| Yield: | 9 7/8%
|
| Spread: | Treasuries plus 874 bps
|
| Call features: | Non-callable for four years
|
| Price talk: | 9 7/8%
|
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