Altice says its successfully refinanced part of its international credit pools for SFR and Altice International.
The loans of pricing €2.492 billion and €863 million respectively extend the average maturity of debt by two years with the average maturity of debt extended by two years.
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.
Dennis Okhuijsen, CFO of Altice Group, said: “With this latest refinancing transaction totalling €3.4 billion, Altice Group has now refinanced about 30 billion euros of its debt in the past year. This major refinancing activity clearly demonstrates Altice’s commitment to proactively manage its liabilities across every credit pool, significantly improving its maturity schedule as well as reducing interest costs.”
Altice purchased mobile operator SFR from Vivendi in 2014. It was then merged into the Numericable cable business.
