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Altice raises USD 8.6 bln for Cablevision, confirms targets

2015-10-01 10:04:00| Telecompaper Headlines

(Telecompaper) Altice said it has successfully priced USD 8.6 billion of new debt in connection with its acquisition of Cablevision Systems. The new debt was split into a USD 3.8 billion 7-year senior secured Term Loan B, a USD 1.0 billion 10-year worth of senior guaranteed notes and USD 3.8 billion worth of 7-year and 10-year senior unsecured notes. Altice confirmed its guidance for achieving medium term EBITDA margin targets of 45 percent at Numericable-SFR and 50 percent at Altice International. It also remains confident in its previously announced medium term operating expenditures related cost savings and synergies targets of EUR 200 million at Portugal Telecom, USD 215 million at Suddenlink and USD 900 million at Cablevision.

Tags: usd targets raises confirms

Category:Telecommunications

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