As part of the restructuring process, Altice France SA filed for Chapter 15 yesterday. An initial hearing is expected today (Wednesday), with a
Read MoreThe Credit Derivatives Determinations Committee has ruled that the French telecommunications group’s debt restructuring constitutes
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Altice SFR France has made further progress in its financial restructuring, having secured majority support from its revolving
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Our main takeaway from yesterday’s call was the confirmation that Altice International were in discussions to sell a stake in its
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No mention of an Altice SFR-type transaction on the Q4 and FY24 call. Revenue is marginally down for the year, EBITDA 3% lower at €1.6bn. Some of the underperformance in EBITDA is explained by
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Altice confirmed that 98% of creditors have supported the recent transaction which extended the maturities and partial writedown off outstanding debt. Pro-forma leverage now sits
Read MoreAltice International are again trying to sell their Covilhã Data centre in Portugal, with press reports stating that the base valuation exceeds €100m / close to
Read MoreAlthough the cleansing documents from Altice France were not specifically mentioned, creditors and the market assume that the 50.1% XPFibre stake would be
Read MoreAs previously commented Gibson Dunn has launched a cooperative agreement for senior creditors in Altice International. This became effective
Read MoreAltice France has confirmed it has received over 90% creditor support across all tranches of its debt before the expiration deadline on
Read MoreAltice France has received sufficient creditor consent to proceed with the proposed restructuring. However, they have extended the deadline to the
Read MoreWhat are the chances of the deal falling through at this stage? A group of 2029 bondholders are seeking to change some agreement terms, namely, to have only one
Read MoreRinse and repeat - it worked for Altice France, so Altice International secured creditors have launched a cooperation agreement, advised by Gibson Dunn. The debt documentation is
Read MoreWe had expected the announcement yesterday, but Altice the cleansing statement outlining the proposed deal only reached us today. Creditors have until March 12th to accede to the
Read MoreWe were expecting an announcement this morning from the Company confirming a proposed deal between creditors and the Company. Some details are emerging from
Read MoreDon’t get too excited. Press over the weekend reports that Altice is seeking to exit its fibre JV OXG with Vodafone. Firstly, this is Altice Luxembourg SA, the
Read MoreWhile we await the finalised restructuring proposal at Atlice France, S&P have downgraded Altice International's structure, with the Senior Secured Notes downgraded to CCC+ and the
Read MoreAnd into round X of negotiations between Altice SFR management and creditors, with reports of another offer from the Company to creditors. The devil will be in
Read MoreWe expect the recommencement of articles on Altice SFR France over the coming days as investors refocus on the imminent restructuring. The €381m of
Read MoreAltice creditors have recommenced discussions with the Company, with senior lenders laying down some red lines for future negotiations. Senior lenders, advised by
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