Ropes & Gray has advised Altice France S.A. and Altice France Holding S.A. on the launch of their historic balance sheet restructuring involving more than €24 billion of debt, whereby Altice France and Altice France Holding entered into restructuring framework agreements with holders of their term loans, senior secured notes and senior notes. The transaction was announced in a Feb. 26 press release.
The transaction eliminates approximately €8.6 billion of term debt, bringing consolidated net debt to €15.5 billion and pro-forma net leverage below 4.0x. Once implemented, the restructuring will significantly reduce existing debt and interest expense and extend maturity runway, improving Altice France’s balance sheet and competitive position.
A cross-border Ropes & Gray team is being led by partners Michael Kazakevich, Ryan Preston Dahl, Matt Czyzyk, and Benoit Lavigne, together with counsel Natalie Blanc and Jacob Bennett and associates Natalie Raine and Hoey Lee.
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