De Pardieu has advised the French companies of the Altice group, leader in the telecommunications sector, on the negotiation and conclusion of a restructuring framework agreement of its financial debt of around 24 billion euros.
The framework agreement pertains to the restructuring of Altice France SA’s financial debt of circa 20 billion euros and is paired with the financial restructuring of its parent company Altice France Holding SA of around 4 billion euros.
The framework agreement has already been approved by nearly 55% of Altice France S.A.’s financial creditors and will be implemented, upon approval by more than 66.67% of the creditors concerned, in the context of conciliation proceedings and, as the case may be, accelerated safeguard proceedings in France (paired with US “Chapter 15” procedures), in coordination with the similar foreign procedures required for the implementation of the financial restructuring of Altice France Holding SA.
This restructuring, which includes the issuance of new debt, cash repayments and the conversion of debt into capital, will reduce the Group’s debt by almost 8 billion euros.
Completion of the transactions is scheduled for the fourth quarter 2025.