Just days after winning the bidding war for French mobile operator SFR, Numericable has launched the syndication of a loan to part-finance the €13.5bn acquisition.
The senior secured facilities include a €5.6bn term loan and a €750m revolving…
Just days after winning the bidding war for French mobile operator SFR, Numericable has launched the syndication of a loan to part-finance the €13.5bn acquisition.
The senior secured facilities include a €5.6bn term loan and a €750m revolving credit facility.
Global coordinators and joint bookrunners are Deutsche Bank, Goldman Sachs and JP Morgan, Numericable said. Barclays, BNP Paribas, Credit Agricole, Credit Suisse, ING and Morgan Stanley are additional joint bookrunners.
The six-year term loan B has a euro tranche of €2.6bn and a tranche denominated in US dollars with an equivalent value of €3bn, according to reports.
The €750m RCF will pay interest of 3.25%.
Separately, Numericable parent Altice is also issuing a €200m RCF, paying 4.25% interest.
Lender meetings are taking place in London and New York over the next two days.
Numericable will finance another portion of the deal via a €4.7bn rights issue to which Altice will subscribe on a pro rata basis.
