By Paul A. Harris
Portland, Ore., Sept. 15 – Altice France SA placed two tranches of senior secured notes due Jan. 15, 2029 (B2/B) on Tuesday, according to market sources.
The deal featured $475 million of notes priced at par to yield 5 1/8%, tight to talk in the 5¼% area. Initial guidance was in the low 5% area. Goldman Sachs was the lead bookrunner. Joint bookrunners were BNP Paribas and JPMorgan.
The offering also featured €500 million of notes priced at par to yield 4 1/8%, tight to talk in the 4¼% area. Initial talk was in the low 4% area. BNP Paribas was the left bookrunner. Joint bookrunners were Goldman Sachs and JPMorgan.
The Paris-based telecommunications company plans to use the proceeds to repay debt.
| Issuer: | Altice France SA
|
| Securities: | Senior secured notes
|
| Maturity: | Jan. 15, 2029
|
| Trade date: | Sept. 15
|
| Settlement date: | Sept. 18
|
| Ratings: | Moody's: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
|
|
| Euro notes
|
| Amount: | €500 million
|
| Left bookrunner: | BNP Paribas
|
| Joint bookrunners: | Goldman Sachs and JPMorgan
|
| Coupon: | 4 1/8%
|
| Price: | Par
|
| Yield: | 4 1/8%
|
| Call protection: | Three years
|
| Price talk: | 4¼% area
|
|
|
| Dollar notes
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| Amount: | $475 million
|
| Left bookrunner: | Goldman Sachs
|
| Joint bookrunners: | BNP Paribas and JPMorgan
|
| Coupon: | 5 1/8%
|
| Price: | Par
|
| Yield: | 5 1/8%
|
| Call protection: | Three years
|
| Price talk: | 5¼% area
|
|
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