Altice USA (ATUS) said Thursday it entered into and funded a $1 billion asset-backed term loan facility, through an unrestricted unit.
The facility is secured by receivables and network assets, including Hybrid-Fiber Coaxial infrastructure, from Altice's Bronx and Brooklyn service areas.
The loan matures in January 2031 and carries a fixed coupon of 8.875%, the company said.
Shares of Altice were up nearly 1% in after-hours trading.
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