Altice Europe N.V.
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Publicatie datum
20 apr 2016 - 07:04
Statutaire naam
Altice Europe N.V.
Titel
Altice announces successful refinancing of existing debt of its Suddenlink credit pool, pricing $1.5 billion of Senior Secured Notes
Bericht
April 20, 2016 - Altice N.V. (Euronext: ATC & ATCB) announces that Altice US Finance I Corporation, the financing subsidiary of Altice's newly acquired U.S. operating subsidiary Cequel Communications Holdings II, LLC (''Suddenlink'') has successfully priced $1.5 billion of 10-year Senior Secured Notes (Non-Call 5) in a Rule 144A / Regulation S offering to institutional investors. All of the proceeds will be used by Suddenlink to refinance the entire $1,481 million aggregate principal amount of loans under Suddenlink's existing Term Loan Facility that matures in February 2019.
On this basis, the average maturity of the Suddenlink capital structure has been materially extended from 5.7 years to 7.3 years, strengthening Altice's liquidity profile. The weighted average cost of Suddenlink debt will increase marginally from 5.3% to 5.5%.
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