Patrick Drahi is reportedly finalizing an agreement to restructure Altice France’s debt, cutting €8.6 billion in exchange for creditors acquiring a 45% stake in the company. Despite the significant equity shift, Drahi will retain management control of the telecom giant, which owns SFR.
The restructuring aims to reduce the company’s high debt-to-EBITDA ratio from 6.7x to below 4x. Secured creditors will receive equity, cash payments, and stricter financial terms, while unsecured creditors will get a smaller stake and reduced debt. The deal is still subject to potential changes.
Related News