Altice expected to use €5 billion equivalent bonds to fund acquisition

By Paul A. Harris

Portland, Ore., Dec. 11 – Altice International and Altice SA are expected to bring more than €5 billion equivalent of secured and unsecured high yield notes to help finance the acquisition of the Portuguese assets of Portugal Telecom from Grupo Oi SA, according to a market source.

Financing, which is also expected to include bank debt, is being provided by a group of banks including Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan and Morgan Stanley.

Timing on the acquisition and debt financings was not immediately available, according to the source.

Altice is a Luxembourg-based telecom.

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