Altice France plans to sell $3 billion equivalent eight-year notes in dollar, euro tranches

By Paul A. Harris

Portland, Ore., April 12 – Altice France SA (B2/B) plans to price $3 billion equivalent of eight-year senior secured notes during the week ahead, according to market sources.

The deal was set to kick off on a Monday conference call with investors.

The offering features $2.25 billion of notes with 5% to 5¼% initial talk via left bookrunner JPMorgan.

The deal also features €350 million of notes with initial talk in the 4% area. Goldman Sachs is the left bookrunner for the euro-denominated notes.

The Rule 144A and Regulation S notes in both tranches come with three years of call protection.

The Paris-based telecom plans to use the proceeds to partially repay the Altice France dollar-denominated 7 3/8% senior secured notes due 2026.

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