Altice Debt Drama Brings US-Style Creditor Deals to Europe
- Altice creditor group is looking to sign deal to act together
- Importing tool to Europe could come with some differences
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Altice France’s upcoming debt negotiations could see another export of the US restructuring market hitting Europe.
A group of secured creditors to billionaire Patrick Drahi’s French telecommunications company is preparing to sign a six-month cooperation agreement that binds them to act together in debt negotiations, Bloomberg reported Friday. Such deals have become a common tool designed to prevent US restructurings from turning contentious, but remain a relative rarity in Europe.