Altice tightens spreads on $900 million and €300 million term loans

By Paul A. Harris

Portland, Ore., Oct. 5 – Altice Financing tightened the spreads on its $900 million and €300 million 8.25-year term loans to Libor and Euribor plus 275 basis points from 300 bps, according to a market source.

Commitments were due on Thursday.

Price talk remains 99.75.

The deal retains a 0% floor and has 101 soft call protection for six months.

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.

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

Altice is a Luxembourg-based cable and telecom company.

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