The transaction, one of the largest restructurings in Europe in recent years, received significant support from existing debtholders, enabling its implementation across Luxembourg, France and the United States through a combination of consensual proceedings, accelerated safeguard processes, and Chapter 15 recognition.
As part of the restructuring, a new Luxembourg holding structure was introduced enabling the refinancing of a portion of the existing notes and the issuance of new instruments aligned with the group’s long-term strategic objectives. The transaction also resulted in a redefined ownership structure enhancing long-term alignment between the group and its capital providers. It reduced funded debt by approximately EUR 8 billion, significantly extended the maturity profile of the group’s obligations, and strengthened the balance sheet.
Altice France continues to serve over 50 million customers, maintaining its position as France’s second-largest telecommunications provider.
This complex, multi-jurisdictional transaction was made possible through close cooperation with leading law firms across jurisdictions. Our Luxembourg Restructuring, Corporate, Finance, and Capital Markets teams worked closely to address the legal and structural complexities of the transaction from all relevant angles.
