Legal Services
Whitecase
Full Credential Description
Global law firm White Case LLP advised the Altice Group on a significant debt restructuring involving a framework agreement with the majority of its creditors. The Altice Group faced a substantial challenge with its existing debt, amounting to €24.1 billion. The tailored solution provided by White Case enabled Altice to restructure this debt, reducing it to €15.5 billion, which represents a reduction of €8.6 billion. This restructuring also allowed Altice to lower its pro forma net leverage to below 4x and extend its maturity runway until 20282033. As part of the agreement, creditors of Altice France SA will receive a cash payment of approximately €1.5 billion, an equity stake of 31 percent in common equity, and new secured debt instruments valued at approximately 77.0 cents. Additionally, creditors of Altice France Holding SA will receive a cash payment of €0.1 billion, a 14 percent equity stake, and new debt due January 2033. Importantly, the restructuring is designed to ensure that employees, customers, suppliers, and other commercial partners remain unaffected by the transaction. The implementation of this agreement is expected to be completed by the end of 2025.