Ropes & Gray Advises Altice USA and Altice International on Multi-Billion Dollar & Euro Refinancings

In The News
December 20, 2022

Altice International €1.7 billion refinancing

Ropes & Gray has advised Altice International S.à r.l. on the successful refinancing of €1.7 billion (equivalent) of Term Loans – extending its 2025 and 2026 Term Loan maturities to October 2027, and on the raising of €0.4 billion (equivalent) of new Term Loans, following excess demand. As a result of this transaction, the average maturity for the Altice International debt capital structure increases to 5.5 years, from 5.0 years previously, with no major term loan maturities before 2027.

Altice USA $2 billion refinancing

Ropes & Gray has advised Altice USA on the successful pricing of a new $2 billion 5-year Senior Secured Term Loan B for CSC Holdings, LLC (a wholly-owned subsidiary of Altice USA). The proceeds from this new tranche, which matures in January 2028 (with a springing maturity in April 2027) are expected to be used to refinance in part (including by way of cashless roll) the outstanding principal amount of CSC’s Term Loans due in 2025 and 2026.

The Ropes & Gray team for both deals was led by finance partner Michael Kazakevich and finance counsel Alexandru Mocanu, with finance associates Mohammed Al Rasheed, Lucrezia Sperzani, Matea Scepanovic and Clara Melly.