Altice France to fully redeem 6% dollar notes, 5 3/8% euro notes

New York, July 20 – Altice France SA will fully redeem its $4 billion 6% senior secured notes due 2022 and €1 billion 5 3/8% senior secured notes due 2022, according to a notice.

Previously the company had said it would fully or partially redeem the two series of debt securities.

The 6% notes will be redeemed at 103% of par and the 5 3/8% notes will be redeemed at 102.688% of par, in each case plus accrued interest up to but excluding the Aug. 15 redemption date.

Accrued interest will be $120 million for the dollar notes and €26,875,000 for the euro notes.

The full redemption is subject to and conditioned upon the issuer’s receipt of at least $2.5 billion of proceeds from an incremental facility and additional proceeds from a debt financing.

Altice is a cable and telecommunications company based in Paris.

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