Altice Group Financial Overview 9M 2013
Our Capital Structure
HOT Unsecured Notes
Unsecured Coditel Mezzanine
Green Data Center Debt
Senior Secured Notes (USD)
Senior Secured Notes (EUR)
Term Loan²
Altice Group Senior Debt
Senior Notes (USD)
Senior Notes (EUR)
Altice Group Total Debt
Cash Altice Group
Altice Group Net Total Debt
Existing Capitalisation (Sep-2013)1
Amount
(local currency)
NIS 1.3bn
€ 106m
Amount
(€m equivalent)
Coupon / Margin
Maturity
278
3.90 - 6.90%
2018
106
8.50% / 5.25% PIK
2017
CHF 29m
24
L+1.700%
2022
USD 460m
340
7.875%
2019
€ 210m
210
8.000%
2019
USD 929m
714
L+4.500%
2020
1,672
USD 425m
314
9.875%
2020
€ 250m
250
9.000%
2023
2,236
62
2,174
8g g
59
L+4.250%
2017
60
E+3.500%
2018
73
E+3.500%
2018
Undrawn Super Senior RCF (USD)
USD 80m
Undrawn Super Senior RCF (EUR)
EUR 60m
Undrawn Super Senior Guarantee Fac. (EUR)
€ 75m
3.0/4.0x senior/total leverage limitations under bond indentures and loans
Uniform financing structure across the group permitting prudent and flexible incurrence of leverage in order to meet corporate objectives
Liquidity in the form of cash and revolving facilities for use at group and operating subsidiary levels
Long duration permanent capital structure comprised of a majority of bonds along with institutional term loans, with no near term maturities
c.50% fixed rate debt, with (majority) of FX risk hedged on a (dynamic) basis (58% NIS Debt, 8% USD Debt and 34% EUR debt)
Source: Company information
1 Assumed FX exchange rates as of September, 30 2013 (1.352 USD per EUR; 4.776 NIS per EUR)
2 Term Loan converted from USD to EUR at a rate of 1.301 USD per EUR
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