Altice France Creditors Are Working on a Debt Plan With Houlihan.

DEBTOR & creditor; DEBT; INVESTORS; MONEY laundering

Altice France's creditors, including Attestor Capital and Arini, are working with advisers Houlihan Lokey Inc. and law firm Milbank LLP to prepare for debt talks with the company. The group, which holds about €1.5 billion ($1.6 billion) of Altice France's debt, has been forming over the past weeks to discuss a separate debt plan. Altice France is looking to cut part of its debt, which has caused its bonds to plummet. The company reported a debt ratio of 6.2 times its earnings and will need creditors to participate in discounted transactions to bring leverage down to 4 times. Altice France is also facing a corruption and money laundering probe in Portugal and France. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)