Israel-focused Altice Group revises talk for euro, dollar notes

By Christine Van Dusen

Atlanta, Dec. 7 - Israel-focused Altice Group revised price talk for its offering of euro- and dollar-denominated notes due in 2019 and 2020, a market source said.

The $445 million notes due December 2019, which are non-callable for three years, are being talked at 7 7/8%. Initial talk was set at 8% to 8¼%.

The €200 million notes due December 2019, which are non-callable for three years, were talked at 8% after initial guidance was set 12.5 basis points higher than the dollar tranche.

The $400 million notes due December 2020 are non-callable for four years and were talked Friday at 9 7/8%. No talk was previously issued for this tranche.

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

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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