Altice International Seeks Creditor Agreement Details Amid Restructuring Considerations
Altice International has requested a copy of the cooperation agreement governing a group of its secured creditors, signaling a potential move towards balance sheet restructuring negotiations.According to a letter reviewed by Bloomberg, the company is seeking clarity on the terms of the agreement that dictates how these lenders interact with Altice International.
The request stems from the fact that existing creditor pacts currently restrict direct negotiations between Altice International and individual lenders within the group. To facilitate future discussions,Altice International aims to understand “the nature of any future engagement” with the creditor group. Specifically, the company has requested a list of all members within the secured creditor group, details regarding any steering commitee that may exist, and a breakdown of each member’s holdings as well as the total size of the group’s overall investment.
This action suggests Altice International is proactively preparing for potential financial adjustments and seeking to establish a clear understanding of its creditor landscape before initiating formal restructuring talks. The company’s move underscores the importance of transparency and collaboration with creditors during periods of financial uncertainty.
Further developments regarding Altice International’s financial strategy will likely depend on the response from the secured creditor group and the outcome of any subsequent negotiations.
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