By Paul A. Harris
Portland, Ore., June 14 - Altice Finco SA priced a €250 million issue of 10-year senior notes (B3/B-/) at par to yield 9% on Friday, according to a market source.
The yield printed at the tight end of the 9% to 9¼% yield talk.
Global coordinator Goldman Sachs & Co. will bill and deliver. Morgan Stanley & Co. LLC was also a global coordinator.
Credit Agricole CIB, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. were joint bookrunners.
Proceeds will be used to refinance debt and fund acquisitions.
Luxembourg-based Altice operates Hot Mobile, a wireless telecommunications company in Israel, and Israeli cable television company Hot.
| Issuer: | Altice Finco SA
|
| Amount: | €250 million
|
| Maturity: | 2023
|
| Securities: | Senior notes
|
| Global coordinators: | Goldman Sachs (bill and deliver), Morgan Stanley
|
| Joint bookrunners: | Credit Agricole CIB, Credit Suisse, Deutsche Bank
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Spread: | 748 bps
|
| Call protection: | Five years
|
| Trade date: | June 14
|
| Settlement date: | June 19
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 9% to 9¼%
|
| Marketing: | Brief roadshow
|
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