Numericable Group today completed a €7.9 billion-equivalent offering of secured notes via global coordinators J.P. Morgan (B&D), Deutsche Bank, and Goldman Sachs. Proceeds, along with €3.7 billion of covenant-lite six-year cross-border term loans, as well as a €4.7 billion rights issue (which is being financed via €4.15 billion of cross-border bonds by Altice), will be used to finance the cash consideration of Numericable’s purchase of SFR from Vivendi (€13.5 billion), and to refinance debt (€2.53 billion).
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