Telecom
Altice in Talks With Apollo for New Loans to Repay Debt
- French firm has also contacted other funds to raise loans
- Debt would be backed by assets in unrestricted subsidiaries
This article is for subscribers only.
Altice France has held talks with funds including Apollo Global Management about raising new debt to repay looming maturities, a move that would potentially hurt existing creditors, according to people with knowledge of the matter.
The embattled telecommunications company approached funds that aren’t existing creditors to discuss this option, said the people, asking not to be named discussing private information. The new debt would be backed by assets in so-called unrestricted subsidiaries, meaning that they are out of the reach of creditors.