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Podcast: Octus Radio
Episode: Reorg Special Podcast: Altice France - Creditors Mobilize as Drahi Tries to Wield the Stick
Description: Listen now: https://go.reorg-research.com/reorg-special-podcast-altice-france
Altice France’s attempt to fix its capital structure through potential discounted buybacks is threatening to spiral out of control. The slide in the group’s unsecured bonds on the back of management’s likely intentionally bearish investor call galvanized investors into organizing, with two groups forming, raising the potential for creditor-on-creditor violence.
In the podcast, we discussed the market reaction after last week's earnings call and Reorg’s view on management’s guidance and Altice France’s valuation. We also explain how asset drop-downs are permitted under the terms of the bonds and the impl...