Oddo BHF - Altice Europe NV Class A (ATC) Altice Europe : Altice simplifies its capital structure with the pushdown of Altice Luxembourg debt at the level of Altice France

Report

Oddo BHF

Pierre François Merveille

Altice Europe : Altice simplifies its capital structure with the pushdown of Altice Luxembourg debt at the level of Altice France

>A two-phase exercise - Yesterday, Altice Europe priced â‚¬ 2.1bn of bonds at Altice France and it will launch an exchange offer on the ATCNA 2027 bonds to push down debts at Altice Luxembourg and refinance drawdowns on Altice Franceâ€™s revolver (â‚¬ 500m). The transaction involves initially i/ the issuance by Altice France of â‚¬ 500m of 5NC2 secured notes, ii/ the issuance by Ypso Finance Bis (100%-owned by Altice France) of â‚¬ 1.6bn of 8NC3 unsecured notes, and iii/ an o...

24/01/2020 9 EN

Underlying

Altice Europe NV Class A

Altice Europe is a provider of cable, fiber, mobile, telecommunications, content and media in Western Europe (comprising France, Portugal, Belgium, Luxembourg1 and Switzerland), the United States of America (U.S.), Israel, the Dominican Republic and the French overseas territories (comprising Guadeloupe, Martinique, French Guiana, La Reunion and Mayotte). Through its various business operations, Co. provides fixed services, mobile telephony services (other than in the U.S.) and media and advertising services to B2C and B2B customers in all of the geographies in which it operates. In addition, Co. offers a variety of wholesale and other services.

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NL0011333752 Netherlands

Provider

Oddo BHF

Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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Analysts

Pierre François Merveille

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Altice Europe : Altice simplifies its capital structure with the pushdown of Altice Luxembourg debt at the level of Altice France

Broadband market growth slower in 1Q24

Altice France Q4 23: Weak guidance and an attempt to strong-arm lenders

Altice International Q4 23: Good numbers, all disposal options seem to be on the table

Rheinmetall AG : Q1 2024 in the end set to be more in line with traditional seasonality

Schneider Electric : Schneider Electric reportedly interested in Bentley Systems

Ipsos : Start to the year held back by the US-Stock removed from Midcap top pick list

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