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Billionaire Patrick Drahi has expressed his commitment to reducing Altice France’s debt in order to address concerns over its nearly billion debt. During a call with investors, Drahi presented options that included selling assets, contributing shareholder equity, and buying back bonds at a discount. Altice France is dedicated to reducing its debt by one turn of leverage within the next 12 months.

Drahi emphasized that reducing debt and strengthening the capital structure of Altice France is his main priority. He assured bond investors that the company would do “whatever it takes” to achieve this goal. The telecommunications business is also actively engaged in discussions regarding the sale of a data center, although the process has been delayed due to an ongoing corruption probe.

Following the presentation to investors, Altice France’s subordinated bonds due in 2027 experienced a 0.5 cent gain, erasing earlier losses caused by a decline in second-quarter earnings. Altice France operates the telecom company SFR and owns media operations such as the cable news channel BFMTV and radio station RMC.

Executives have stated that the options for de-leveraging Altice France are still being considered, and the course of action remains fluid. Altice France has already taken steps to improve its debt sustainability, including extending the maturity of its term loans. Altice International, which operates in Portugal, Israel, and the Dominican Republic, has also pledged to reduce its borrowings within the next year.

During a separate call with investors for Altice International, Drahi expressed his personal support for the debt, revealing that he still holds some of Altice France’s unsecured bonds in his personal portfolio. These bonds have been trading at a significant discount, with some notes trading below 50% of face value.

Altice International plans to address its 2025 and possibly 2026 maturities by coming to the market in the second half of the year. The company intends to partially fund this by selling a data center in Portugal.

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