Altice, the acquisitive telecoms and cable group founded by billionaire Patrick Drahi, announced on Monday a debt refinancing deal which it said would lead to cost savings on interest payments and extend its debt maturity.
PARIS (Reuters) – Altice, the acquisitive telecoms and cable group founded by billionaire Patrick Drahi, announced on Monday a debt refinancing deal which it said would lead to cost savings on interest payments and extend its debt maturity.
The company&rsquo-s Altice International and SFR divisions priced 4 billion euros ($4.7 billion) of new term loans, while Altice International also priced 675 million euros of senior unsecured notes with a coupon of 4.75 percent.
&ldquo-This latest refinancing transaction totalling 4 billion euros, plus a record low for a new unsecured 10-year bond at 4.75 percent, again demonstrates Altice&rsquo-s commitment to proactively manage its liabilities across every credit pool, significantly improving its maturity schedule as well as reducing interest costs,&rdquo- said Altice Group chief financial officer Dennis Okhuijsen in a statement.
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