Altice International Rebuffs Lender Pressure Over Unit Transfers

Altice International is pushing back against creditor demands for details on recent transactions and their impact on its heavy debt, in the first written exchange since the telecom operator moved two units beyond lenders’ reach.

The group requested information in a Dec. 2 letter about the firm’s designation of its Portugal and Dominican Republic units as unrestricted subsidiaries, according to people familiar with the matter. They also asked for details on intercompany loans owed to Altice International, which were largely borrowed by its parent Altice Luxembourg SA — a company that isn’t an obligor of Altice International’s loans and bonds. ...