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Bond Market News
Altice France Close to Debt-for-Equity Deal with Creditors
February 26, 2025
Altice France is preparing to sign an agreement with its creditors to reduce the telecoms group’s debt in exchange for a minority stake in the company. The agreement will involve a debt reduction of €8.6bn ($9bn), bringing consolidated net debt to €15.5bn ($16.3bn). Creditors will receive a 45% stake in total, including 31% for secured creditors. It will also include changes in governance. The agreement is expected to be signed shortly, and comes after a series of discussions by Altice with its creditors to reduce its debt.
Altice’s bonds were trading stable with its 5% 2028s at 80.1, yielding 13.6%.
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