Altice France goes all out with a new offer to reduce its 24 billion debt

The poker game continues between Altice France and its creditors. According to our information, the telecoms operator has submitted in recent hours a new offer to restructure its colossal debt, which amounts to more than 24 billion euros. Engaged in a standoff for several months now with its creditors, Patrick Drahi's group hopes to convince its debt holders once and for all with this new offer. This, sent this Tuesday, is made up of an immediate cash payment of 2.6 billion euros to its so-called secured creditors (who hold guarantees on their assets), in exchange for a considerable debt reduction, which would increase from 20 to 14.2 billion. In return, Altice offers holders of secured debt an increase to 30% of the company's capital. Which would force Patrick Drahi to share some power. The reinstalled debt would come with an interest rate of 7%.

A failure at the end of the year

At the end of November, at the end of a round of negotiations…