You will be redirected back to your article in seconds

Altice Secures $3.67 Billion in Debt Refinancing for SFR, Altice International

PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively.

“With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros ($32.3 billion) of its debt in the past year,” said Dennis Okhuijsen, CFO of Altice Group.

Okhuijsen said this “refinancing activity clearly demonstrates Altice’s commitment to proactively manage its liabilities across every credit pool, significantly improving its maturity schedule as well as reducing interest costs.”

Thanks to the refinancing, SFR, which Altice bought from Vivendi in 2014 and merged with its Numericable cable operation, will be able to extend its capital structure from 7.3 to 7.6 years. Meanwhile, the average maturity of Altice International’s capital structure has been extended from 6.7 to 7.0 years.

The refinancing activity strengthens Altice’s cash flow and reduces total annual interest costs by 60 million euros. The average maturity of Altice Group is now 6.8 years and the weighted average cost of debt will remain stable at 6.0% (from 6.1% previously).

More Film

  • Brad Pitt Emilio Estevez Tyler Perry

    Hollywood's Most and Least Profitable Stars Revealed

    PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively. “With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros […]

  • I Tonya trailer

    'I, Tonya' Teaser: Margot Robbie Transforms Into Disgraced Figure Skater

    PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively. “With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros […]

  • Gotham Awards Nominations Remind of Oscar

    Gotham Awards Once Again Remind of the Oscar Season Possibilities

    PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively. “With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros […]

  • Nascent Middleburg Film Festival Banks on

    Nascent Middleburg Film Festival Banks on Rural Charm, Awards Hopefuls

    PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively. “With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros […]

  • Makeup-Hair Designer Creates Looks for 'Blade

    Makeup-Hair Designer Specializes in Bruising Looks for 'Blade Runner 2049,' 'Stronger'

    PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively. “With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros […]

  • Harvey Weinstein

    Directors Guild of America Leaders to Address Sexual Harassment in Industry

    PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively. “With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros […]

  • DDP-GP-JC

    Daniel Dae Kim, Grace Park, Justin Chon Among 16th Annual Unforgettable Gala Honorees (EXCLUSIVE)

    PARIS – Patrick Drahi’s Netherlands-based Altice has refinanced a portion of the existing debt of its French telco group SFR and Altice International, to the tune of 2.5 billion euros and 863 million euros, respectively. “With this latest refinancing transaction totaling 3.4 billion euros ($3.67 billion), Altice Group has now refinanced about 30 billion euros […]

More From Our Brands

Access exclusive content