French cable operator Numericable has increased the total of its mandatory bond issue to finance the acquisition of fixed and mobile telco SFR from €6.04 billion to €8.4 billion.
At the same time, the operator is reducing the amount it is borrowing from its banks to about €2.8 billion. Numericable will borrow about €1.5 billion in euros and US$1.75 billion in dollars, down from the US$2.6 billion previously envisaged, according to local reports.
Numericable’s controlling shareholder Altice has said it plans to raise €4.150 billion from a separate bond offering.
The pair’s move is seen as evidence of a renewed appetite in the market for high-yield debt.
23 September 2020 @ 17:30:00 UTC
23 September 2020 @ 17:00:00 UTC
23 September 2020 @ 16:00:00 UTC