Altice Europe: raises lowest coupon debt ever

(CercleFinance.com) - Altice Europe said on Monday that it had issued 2.
5 billion euros of bonds at its lowest coupon debt ever, on behalf of its French unit Altice France.

The European telecoms group has raised 2 billion euros of 8.25-year euro and dollar senior notes maturing in 2028 with a weighted average cost of 3.375%.

It has also priced 550 million euros of 5.25-year euro notes maturing in 2025 at a cost of 2.5%, its lowest coupon ever.

The original offering of 1.5 billion euros was increased following significant excess demand, Altice said.

On Friday, Moody's assigned "B2" ratings to Altice's new notes, saying that the refinancing will increase Altice France's leverage from 3.9x to 4.1x.

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