Altice sets talk for $1.69 billion equivalent three-part notes offer

By Paul A. Harris

Portland, Ore., Dec. 4 - Altice set price talk for its $1,685,000,000 equivalent dual-currency, three-part notes offering, an informed source said on Wednesday.

Altice Financing SA plans to issue $1,285,000,000 equivalent of eight-year senior secured notes in tranches of dollar-denominated notes, which are talked to yield 6½% to 6¾%, and euro-denominated notes, which are talked to yield 12.5 basis points behind the dollar-denominated secured notes. The eight-year secured notes will come with three years of call protection.

Altice Finco SA plans to issue $400 million 10-year senior unsecured notes, which come with five years of call protection and are talked to yield in the 8¼% area.

The notes in all three tranches are expected to price on Thursday.

Joint global coordinator Goldman Sachs International will bill and deliver. Morgan Stanley is also a global coordinator.

Barclays, Credit Agricole CIB and Deutsche Bank are the joint bookrunners.

Proceeds from the Rule 144A for life and Regulation S deal will be used to fund the acquisition of Orange Dominicana SA and Tricom, both of which have operations in the Dominican Republic.

Luxembourg-based Altice operates Hot Mobile, a wireless telecommunications company in Israel, and Israeli cable television company Hot.

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