(Provides particulars on pricing, timeline)
By Chiara Elisei
LONDON, Jan 19 (Reuters) –
Telecommunications agency Altice France on Thursday launched a course of to increase its present loans maturing between 2025 and 2026 to August 2028, based on a memo seen by Reuters.
The transfer is an indication that huge firms try to benefit from improved market sentiment and investor urge for food to refinance debt effectively earlier than present loans mature.
Altice France’s excellent loans include a complete of $6.070 billion and a pair of.145 billion euros ($2.32 billion).
In return for the maturity extension, the worldwide cable, communication and leisure firm will improve the margins it presently pays on the loans to five.5% over Euribor/ Sonia, the memo stated.
An investor name is scheduled for Thursday at 1630 GMT.
European buyers are capable of submit their commitments to the brand new loans by Jan. 25 and U.S. buyers by Jan. 25.
BNP Paribas and Goldman Sachs are main the efforts for the European loans, whereas JP Morgan is main the U.S. deal, the memo stated.
Different banks concerned within the deal embody Barclays, CA-CIB, Natixis, Societe Generale, Morgan Stanley, Financial institution of America, Citi, Deutsche Financial institution, ING and RBC. ($1 = 0.9246 euros) (Reporting by Chiara Elisei; Enhancing by Dhara Ranasinghe)