Israel-focused Altice plans to sell dollar, euro bonds due 2019, 2020

By Christine Van Dusen

Atlanta, Nov. 28 - Altice Group is planning a multi-tranche issue of euro- and dollar-denominated bonds due 2019 and 2020, a market source said Wednesday.

A $700 million-equivalent tranche of dollar and euro bonds will mature in December of 2019 and be non-callable for three years.

The second tranche, $390 million in senior notes, will be due in December of 2020.

Goldman Sachs, HSBC and Morgan Stanley are the bookrunners for the Rule 144A and Regulation S deal.

A roadshow is scheduled for Dec. 5 and Dec. 6.

Proceeds will be used to refinance the telecommunications company's debt and to finance the acquisition of the remaining 31% stake in Hot Mobile that Altice does not own.

Altice operates Hot Mobile, a wireless telecommunications company in Israel, and Israeli cable television company Hot.

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