Altice NV: Altice announces successful refinancing of a portion of the existing debt of its SFR and Altice International credit pools, pricing €2.492bn and €863m of new Term Loans respectively

Altice announces successful refinancing of a portion of the existing debt of its SFR and Altice International credit pools, pricing €2.492 billion and €863 million of new Term Loans respectivelyAverage maturity of debt refinanced extended by c.2 years Total annual interest cost...

London, 23/03/2017 (informazione.it - comunicati stampa - telecomunicazioni)

- Altice N.V. (Euronext: ATC, ATCB) announces that it has successfully priced for its SFR Group SA (Euronext: SFR) ("SFR" or "Altice France") credit pool 2.492 billion euro-equivalent of new 8.25-year Term Loan B's. Closing of the new financing is subject to closing conditions and the proceeds will be used by SFR to refinance its €850 million April 2023, €297 million July 2023 and $1,418 million January 2024 Term Loan B's.

In addition, Altice Financing S.A., a subsidiary of Altice International S.a.R.L. ("Altice International") has successfully priced 863 million euro-equivalent of new 8.25-year Term Loan B's. Closing of the new financing is subject to closing conditions and the proceeds will be used by Altice International to refinance its €446 million July 2023 Term Loan B and $425 million 9.875% Senior Unsecured Notes due December 2020.

Following the consummation of the refinancing, the average maturity of SFR's capital structure has been extended from 7.3 to 7.6 years and the weighted average cost of SFR's debt will decrease from 5.2% to 4.9%. The average maturity of Altice International's capital structure has been extended from 6.7 to 7.0 years and the weighted average cost of Altice International's debt will decrease from 6.2% to 5.9%. This refinancing activity again strengthens Altice's liquidity profile and reduces total annual interest costs by €60 million . The average maturity of Altice Group is now 6.8 years and the weighted average cost of debt will decrease to 6.0% (from 6.1% previously).

The 2.492 billion euro-equivalent of new SFR Term Loan B's comprise one dollar loan of $1.420 billion at a margin of 275bps over Libor (issued at an OID of 99.75) and one euro loan of €1.145 billion at a margin of 300bps over Euribor (issued at an OID of 100). For Altice International, the 863 million euro-equivalent new Term Loan B was issued as a dollar loan of $910 million at a margin of 275bps over Libor (issued at an OID of 99.75).

, said:

Nick Brown:
+41 79 720 15 03 / nick.brown@altice.net

Arthur Dreyfuss: 
+41 79 946 49 31 / arthur.dreyfuss@altice.net

Founded by telecom entrepreneur, Patrick Drahi, Altice is a multinational cable, fiber, telecommunications, contents and media company with presence in four regions - Western Europe (comprising France, Portugal and Switzerland), the United States, Israel, and the Overseas Territories (currently comprising the French Caribbean, the Indian Ocean regions and the Dominican Republic). Altice provides very high speed based services (high quality pay television, fast broadband Internet and fixed line telephony) and, in certain countries, mobile telephony services to residential and corporate customers. Altice is also active in the media space with a portfolio of channels (News, Sports, Lifestyle etc.) as well as providing Premium content on nonlinear platforms; it also produces its own original content (Series, Movies etc.).

For more information, visit www.altice.net