Altice pricing $2.25 billion 10-year secured notes on Monday

By Paul A. Harris

Portland, Ore., April 18 – Altice Financing SA plans to price a $2.25 billion offering of 10-year senior secured notes (existing ratings B1/BB-) on Monday trailing a mid-morning conference call with investors, according to a syndicate source.

Goldman Sachs & Co. is the left bookrunner for the Rule 144A and Regulation S offering. BofA Merrill Lynch, Barclays, BNP Paribas, Citigroup Global Markets, Credit Agricole CIB, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., HSBC, ING, Morgan Stanley & Co., Natixis, RBC Capital Markets and UBS Investment Bank are the joint bookrunners.

The notes come with five years of call protection.

Proceeds will be used to redeem the Luxembourg-based telecommunications and cable company’s $460 million and €210 million of senior secured notes due 2012 at 103.938 and 104, respectively, to repay its 2013 term loan in its entirety and to prepay $475.6 million of its 2015 term loans.

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