“The opposite winds are behind us”: SFR has just made 10 billion debt disappear

It is a draft of spectacular oxygen for the telecoms group. As of October 1, Altice France will see her colossal debt pass from “Nearly 25 billion at just over 15 billion euros”confirmed Arthur Dreyfuss. A major financial operation that deeply cleanses business report And offers him new perspectives.

“We can therefore act that the opposite winds are behind us”said the CEO. This restructuring is not only cosmetic: it is accompanied by a direct reduction in charges, with a reduction in annual financial costs of 400 million euros. In addition, the group has managed to postpone its next repayment deadlines, now spread out “Between 2028 and 2033”offering precious visibility and stability.

Creditors enter the capital, but the operational is preserved

This financial success, however, has a major consideration: creditors, who have accepted this agreement, will now hold 45% of the capital of Altice France. Arthur Dreyfuss is however reassuring, claiming that this new distribution of capital will have “No impact on the operational life of the company”. He specifies that the two new members who will integrate the board of directors will be “independent administrators” and not direct representatives of creditors.

The plan was carried out “Without any impact on employment, without impact on customers, without impact on partners”hammered the leader, indirectly responding to the union fears which had opposed the legal safeguard plan. For the CEO, this restructuring was made “In the interest of the company” and its employees.

Faced with repurchase rumors, the group displays its serenity

With a sanitized financial situation and assets deemed “unique”,, SFR logically arouses lusts. Arthur Dreyfuss admits being aware of “Brands of interest for certain assets”information “Sue by everyone”. However, he very clearly claims that“At this point, there is no offer” of redemption on the table.

The CEO has also swept away the press rumors evoking a possible constrained departure from the historic shareholder Patrick Drahi. Qualifying this information as “factually false”he recalled that “The only constraint that we have vis-à-vis creditors (…) is our ability to honor our deadlines”. The next one, of around a billion euros in 2028, is said to be already provisioned.

Now more stable, Altice France has not finished with her refocusing strategy and will continue to study assets, as the sale of its shares in the XPFiber optical fiber network. As for the origin of possible future buyers, the position is clear: the group’s “fiduciary responsibility” will force him to study in the same way French and foreign offers.

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