Elliott Refinanced Altice International's Holding Company Loan

A holding company of Altice International obtained funds from Elliott Investment Management to refinance more than €500 million ($586 million) of debt, as part of a broader effort by Patrick Drahi’s telecommunications conglomerate to sort out its pile of liabilities, people familiar with the matter said.

The money was used to repay a loan with a relationship bank, the people said, asking not to be named discussing private matters. Doing so later made it easier for the company to move some of its assets out of the reach of creditors because the terms of the earlier financing would have complicated such a maneuver, the people said.