Archive · 13 Jan 2026
JPMorgan Backs Altice USA Refinancing Debt
Altice USA, a telecommunications company, is getting a new loan from JPMorgan to pay back some old debt.
The old debt was from Goldman Sachs and TPG Angelo Gordon.
Altice wanted to pay back this debt before a fee kicked in that would have made it more expensive.
The new loan is for about $1.1 billion, and it's secured by money Altice makes from its services in the Bronx and Brooklyn, and some of its network equipment.
Altice has been having a tough time with a lot of debt, and this new loan might help them manage it better.
Some of Altice's other lenders are not happy because Altice has been doing some things they don't like, like suing them and changing how the debt is paid back.
JPMorgan is lending Altice USA $1.1 billion to refinance a $1 billion debt from Goldman Sachs and TPG Angelo Gordon.
The refinancing avoids a premium payment that would have kicked in soon, known as the call protection period.
Altice has been struggling with a heavy debt load and has brought on advisers to evaluate its options.
In November, Altice sued some of its creditors, alleging they formed an 'illegal cartel'.
Altice recently raised $2 billion from JPMorgan for early refinancing of a loan due in 2028, making JPMorgan more senior in the debt repayment line.
- Who
- Altice USA (Optimum Communications Inc.), JPMorgan Chase & Co., Goldman Sachs Group Inc., TPG Angelo Gordon
- What
- JPMorgan is lending Altice USA $1.1 billion to refinance debt before an early repayment penalty kicks in
- When
- The refinancing is happening before the call protection period starts in the coming days
- Where
- United States
- Why
- To refinance a $1 billion asset-backed facility obtained from Goldman Sachs and TPG Angelo Gordon at par value, avoiding a premium payment
- Company
- Altice USA (Optimum Communications Inc.)
- Lender
- JPMorgan Chase & Co.
- Refinanced Debt Amount
- $1.1 billion
- Original Debt Source
- Goldman Sachs Group Inc. and TPG Angelo Gordon
- Original Debt Amount
- $1 billion
- Debt Maturity
- 2031
- Collateral
- Receivables from Bronx and Brooklyn service areas, Hybrid-Fiber Coaxial network