Altice France:
Every complex development broken down from multiple perspectives.
Altice France is making headlines with its recently announced and controversial debt reduction strategy. Our credit researchers, leveraged finance journalists, and legal experts have been covering this situation for months, helping our clients understand each development as it happens.
We've made a selection of some of our most recent and popular articles on Altice France complimentary. Read more for in-depth insights and commentary from CreditSights, Covenant Review, and LevFin Insights, along with coverage from our dedicated Special Situations team:
View some of our other coverage highlights from the past few months below (articles available to subscribers only).
Special Situations Insights:
- 3/28: SFRFP/ALTICE: Dissecting the Drahi Drama
- 3/21: Altice France: Screens Painted Red by SFR
- 3/20: EMEA Special Situations: Intrum bondholder group holds financial advisor pitches today; holdings are across 2024-2028 euro notes
- 3/19 EMEA Special Situations: Intrum bondholder group legal advisory pitches taking place Thursday this week
- 3/19 EMEA Special Situations: French government to find ‘national solution’ for Atos
- 3/18 EMEA Special Situations: Arvos Scheme underpinning restructuring approved at High Court
- 2/24: US/EMEA Special Situations: Altice France bonds continue to slide as advisors size up mandate opportunities; Drahi burning bridges with bond investors, says CreditSights
LevFin Insights News and Commentary:
- 3/21 EMEA Press: Douglas IPO meets with some scepticism given debt burden
- 3/20: EMEA IPO: Douglas sets bottom-of-the-range IPO price at €26; first day of trading tomorrow
- 3/20: US/EMEA Earnings Call: Altice France will seek ‘creditor participation’ in discounted transactions to help drive leverage to new target below 4x, otherwise facing ‘long road’ of organic deleveraging; bonds sharply lower, with unsecured 2027s falling 11 points
- 3/20: EMEA Secondary: Altice France unsecureds in freefall in otherwise quiet secondary market; primary issuance highlights strong bid for paper
- 3/20: US/EMEA Secondary: Altice France US bonds follow euros lower after Q4 results and management discussion about needing ‘creditor participation’ to get leverage lower
- 3/19 EMEA M&A: Zellis auction down to final round; private credit and broadly syndicated financing options both still in the running
- 3/19 EMEA New Issue: Fnac Darty prices €550mn April 2029 bonds at 6% and they pop over a point on break; come inside 6.25%-6.5% guidance
- 3/18: EMEA Private Credit Weekly: Mixed views on market outlook at SuperReturn; Barings takes legal action against Corinthia following team poach; pricing pressure persists
- 3/18: US/EMEA New Issue: Swissport launches €1.2bn-equiv dollar/euro term loans for dividend recap; lender call tomorrow
Legal Coverage From Covenant Review:
- 3/22/24: Altice France: Frequently Asked Questions in Light of the Q4 2024 Earnings Call (Loans Edition)
- 2/21/24: Altice France: Why the €10 Billion XpFibre Sale Isn’t an “Asset Disposition” Under the Bond Covenants
- 7/11/23: What Debt Could Altice France Repay with Asset Sale Proceeds? (Loans Edition)
- 6/26/23: What Debt Could Altice France Repay with Asset Sale Proceeds? (Part 1)
- 6/29/23: What Debt Could Altice France Repay With Asset Sale Proceeds? (Part 2: Restricted Payments)
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About our Special Situations Team
Comprised of seasoned credit analysts, legal experts from Covenant Review, and investigative journalists from LevFin Insights, our Special Situations team offers 360° analysis and timely coverage of complicated events, enabling you to more quickly identify potential investment opportunities and navigate risks with greater confidence.