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Altice Europe refinances subsidiary

Altice Europe priced and allocated €2.8 billion of senior secured notes at unit Altice International Sàrl as part of the subsidiary's refinancing.

Of this, €2.2 billion will mature in January 2028 with a weighted average cost of 3.06%. The remainder will mature in January 2025 with a cost of 2.25%, the lowest coupon debt ever raised by Altice International.

Altice Europe said the transaction's total annual interest savings pro forma reached €187 million, aiding its liquidity. Meanwhile, the average maturity of Altice International's debt capital structure increased from 5.4 to 6.9 years.