Altice France sets pricing for eight-year secured notes in €500 million and $475 million tranches

By Paul A. Harris

Portland, Ore., Sept. 15 – Altice France SA set final pricing in its €900 million equivalent two-part offering of eight-year senior secured notes (existing ratings B2/B), according to market sources.

The offering features $475 million of notes launched with a 5 1/8% coupon at par, tight to talk in the 5¼% area. Initial guidance was in the low 5% area. Goldman Sachs is the lead bookrunner. BNP Paribas and JPMorgan are the joint bookrunners.

The deal also features €500 million of notes launched with a 4 1/8% coupon versus earlier talk in the 4¼% area. Initial talk was in the low 4% area. BNP Paribas is the left bookrunner. Goldman Sachs and JPMorgan are the joint bookrunners.

Final terms are expected later on Tuesday.

The notes in both tranches become callable after three years at par plus 50% of the respective coupons.

The Paris-based telecommunications company plans to use the proceeds to repay debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.