Altice France in market with $3 billion equivalent eight-year dollar-, euro-denominated notes

By Paul A. Harris

Portland, Ore., Sept. 23 – Altice France SA is in the market with a $3 billion equivalent offering of eight-year senior secured notes (existing ratings B2/B), sources say.

The deal will feature dollar-denominated notes with initial price talk of 5 5/8% and euro-denominated notes with initial talk of 4 3/8%.

The notes come with three years of call protection and are expected to price on Friday.

The Paris-based telecom plans to use the proceeds to repay its 7 3/8% senior secured notes due 2026 and finance recent acquisitions.

JPMorgan will lead the dollar-denominated tranche. Morgan Stanley will lead the euro-denominated tranche.

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