Altice France seeks $2 billion term loan B-13 at Libor plus 375 bps

By Sara Rosenberg

New York, July 10 – Altice France is shopping a $2 billion eight-year term loan B-13 with price talk of Libor plus 375 basis points with a 0% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Commitments are due on Thursday, the source added.

Proceeds will be used to refinance about half of the company’s existing first-lien notes due 2022.

Altice is a cable and telecommunications company.

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