Altice selling $2.75 billion equivalent eight-year secured notes in benchmark dollar, euro tranches

By Paul A. Harris

Portland, Ore., Aug. 2 – Altice Financing SA plans to price a $2.75 billion two-part offering of eight-year senior secured notes (expected ratings B2/B) in benchmark dollar-denominated and euro-denominated tranches on Tuesday, according to market sources.

Goldman Sachs & Co. LLC is left lead on the dollar-denominated notes which are in the market with initial talk in the mid-5% area.

BNP Paribas is left lead on the euro-denominated notes, in the market with initial talk in the mid-4% area.

The Luxembourg-based cable TV services provider plans to use the proceeds to refinance its 7½% senior secured notes due 2026.

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