Altice to launch €1.09 billion U.S. and euro term loan on Tuesday

By Sara Rosenberg

New York, Oct. 2 – Altice Financing is set to hold a lender call on Tuesday to launch a €1,089,000,000 8.25-year U.S. dollar- and euro-denominated term loan, according to a market source.

Goldman Sachs, JPMorgan, Barclays, BNP Paribas, Credit Suisse and Morgan Stanley are the bookrunners on the deal, with Goldman the left lead on the U.S. piece and JPMorgan the left lead on the euro piece.

Price talk on the term loan is Libor/Euribor plus 300 basis points with a 0% floor and an original issue discount of 99.75, the source said.

The term loan has 101 soft call protection for six months.

Proceeds will be used to refinance existing notes due in 2022.

Commitments are due on Thursday, the source added.

Altice is a Luxembourg-based cable and telecom company.

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