Successful syndication of the senior credit facilities backing the acquisition of Altice's French towers by KKR

In December 2018, Altice Europe and KKR announced the creation of Hivory, the largest independent telecoms tower company in France and third largest European tower company with a portfolio of more than 10,000 of Altice’s French towers. 

Crédit Agricole CIB, BNP Paribas, DNB Bank and Natixis as Bookrunners and Underwriters are delighted to announce the successful syndication of the EUR 770m senior credit facilities (the “Facilities”) backing the transaction.  

The Facilities comprise an EUR 470m acquisition facility to fund part of KKR’s acquisition of a 49.99% stake in Hivory, and a EUR 300m revolving credit facility to fund Hivory’s ongoing growth prospects. The facilities closed oversubscribed. Mandated Lead Arrangers joining in syndication  were  Allied  Irish  Banks  plc,  Deutsche  Bank  AG  London  Branch,  E.SUN Commercial  Bank  Ltd,  Edmond  de  Rothschild  AM’s  BRIDGE  funds,  Generali  Global Infrastructure, Lloyds Bank plc, MUFG Bank Ltd Paris Branch, Raiffeisen Bank International AG and Schroders 

Through Hivory, Altice and KKR will proactively seek to partner with all mobile operators to develop their coverage and densification objectives in France, through the build-to-suit of new towers and facilitating colocation needs in the French mobile market. 

The Underwriters and Mandated Lead Arrangers are pleased to be part of this landmark financing for KKR and Altice.  

26.03.2019

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