By Paul A. Harris
Portland, Ore., Sept. 15 – Altice France SA placed two tranches of senior secured notes due Jan. 15, 2029 (B2/B) on Tuesday, according to market sources.
The deal featured $475 million of notes priced at par to yield 5 1/8%, tight to talk in the 5¼% area. Initial guidance was in the low 5% area. Goldman Sachs was the lead bookrunner. Joint bookrunners were BNP Paribas and JPMorgan.
The offering also featured €500 million of notes priced at par to yield 4 1/8%, tight to talk in the 4¼% area. Initial talk was in the low 4% area. BNP Paribas was the left bookrunner. Joint bookrunners were Goldman Sachs and JPMorgan.
The Paris-based telecommunications company plans to use the proceeds to repay debt.
Issuer: | Altice France SA
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Securities: | Senior secured notes
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Maturity: | Jan. 15, 2029
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Trade date: | Sept. 15
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Settlement date: | Sept. 18
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Ratings: | Moody's: B2
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| S&P: B
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Distribution: | Rule 144A and Regulation S
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Marketing: | Roadshow
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|
Euro notes
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Amount: | €500 million
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Left bookrunner: | BNP Paribas
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Joint bookrunners: | Goldman Sachs and JPMorgan
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Coupon: | 4 1/8%
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Price: | Par
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Yield: | 4 1/8%
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Call protection: | Three years
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Price talk: | 4¼% area
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|
Dollar notes
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Amount: | $475 million
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Left bookrunner: | Goldman Sachs
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Joint bookrunners: | BNP Paribas and JPMorgan
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Coupon: | 5 1/8%
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Price: | Par
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Yield: | 5 1/8%
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Call protection: | Three years
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Price talk: | 5¼% area
|
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