NOTICE to INVESTORS ALTICE FRANCE S.A. Dated January 22
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NOTICE TO INVESTORS ALTICE FRANCE S.A. Dated January 22, 2020 January 22, 2020 – Altice France S.A. (the “Company”), has announced that it proposes to issue €500 million in aggregate principal amount of senior secured notes (the “Senior Secured Notes”), and its subsidiary, Ypso Finance Bis S.A. (“Ypso Finance”, and together with the Company, the “Companies”), proposes to issue €1,608 million (equivalent) in aggregate principal amount of senior notes (the “Senior Notes” and together with the Senior Secured Notes, the “Notes” or the “Proposed Financing”). The proceeds of the Proposed Financing will be used to finance the Transactions (as defined herein). The information contained in this Notice will, among other information, be disclosed in connection with the Proposed Financing. This Notice may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. We disclaim any obligation to update or revise any forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. THIS NOTICE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER OR SOLICITATION TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION. THE INFORMATION CONTAINED IN THIS NOTICE DOES NOT CONSTITUTE A PROSPECTUS OR ANY OTHER OFFERING DOCUMENT, NOR DOES IT CONSTITUTE OR FORM PART OF ANY INVITATION OR OFFER TO PURCHASE, SELL OR SUBSCRIBE FOR, OR ANY SOLICITATION OF ANY SUCH OFFER TO PURCHASE, SELL OR SUBSCRIBE FOR, ANY SECURITIES OF THE COMPANIES OR ANY OF THEIR AFFILIATES NOR SHALL SUCH INFORMATION BE RELIED ON FOR THE COMMENCING OF ANY ACTIONS IN RELATION TO THE SECURITIES OF THE COMPANIES OR ANY OF THEIR AFFILIATES. Unless otherwise stated or the context otherwise requires, the terms “Group”, “we”, “us” and “our” as used in this Notice refers to the Companies and their subsidiaries. CERTAIN DEFINITIONS Unless otherwise stated or the context otherwise requires, the terms “Group”, “we”, “us” and “our” as used in this Notice refers to (x) prior to the consummation of the Automatic Exchange, Altice France and its subsidiaries and (y) following the consummation of the Automatic Exchange, the Altice France HoldCo and its subsidiaries. Definitions of certain terms and certain financial and operating data can be found below. For explanations or definitions of certain technical terms relating to our business as used herein, see “Glossary” on page G-1 of this Notice. “2019 Hivory Senior Revolving Facilities” .. has the meaning ascribed to such term in “Description of Indebtedness–2019 Hivory Senior Revolving Facilities”. “ACS” ............................................................. Altice Customer Services S.à r.l., a private limited liability company (société à responsabilité limiteé) organized under the laws of the Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register under Number B 210 139, having its registered office at 5, rue Eugène Ruppert, L-2453 Luxembourg, which is the sole shareholder of Intelcia Group S.A., a public limited liability company (société anonyme) organized under the laws of Morocco, and its subsidiaries. “AENS” ......................................................... Altice Entertainment News & Sport S.A., a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg registered with the Luxembourg Trade and Companies Register under Number B 170 036, having its registered office at 5, rue Eugène Ruppert, L-2453 Luxembourg, and a subsidiary of Altice TV. “AENS Contract Renegotiation” ................ has the meaning ascribed to such term in “Certain Relationships and Related Party Transactions—Transactions with Altice TV”. “Altice B2B France” ..................................... Altice B2B France is a French société par actions simplifiée having its registered office at 16, rue du Général Alain de Boissieu, 75015 Paris, France, registered with the Paris Trade and Companies Register (registre du Commerce et des Sociétés) under sole identification number 499 662 757. “Altice Blue Two” ......................................... Altice Blue Two is a French société par actions simplifiée having its registered office at 16, rue du Général Alain de Boissieu, 75015 Paris, France, registered with the Paris Trade and Companies Register (registre du Commerce et des Sociétés) under sole identification number 793 618 000. “Altice Europe” ............................................. Altice Europe N.V. (formerly known as Altice N.V. and Altice S.A.), a public company with limited liability (naamloze vennootschap) incorporated and existing under the laws of The Netherlands, registered with the Dutch Trade Registry under number 63329743 and having its registered office at Prins Bernhardplein 200, 1097 JB Amsterdam, The Netherlands, and its subsidiaries, unless the context otherwise requires. “Altice Europe Group” ................................. Altice Europe and its consolidated subsidiaries. “Altice France” .............................................. Altice France S.A. (formerly known as SFR Group S.A. and Numericable-SFR S.A.) is a French société anonyme having its registered office at 16, rue du Général Alain de Boissieu, 75015 Paris, France, registered with the Paris Trade and Companies Register (registre du Commerce et des Sociétés) under sole identification number 794 661 470. “Altice Group Lux” ....................................... Altice Group Lux S.à r.l., a private limited liability company (société à responsabilité limiteé) incorporated under the laws of the Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register under Number B 202171, having its registered office at 5, rue Eugène Ruppert, L-2453 Luxembourg. “Altice Lux” ................................................... Altice Luxembourg S.A., a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register under Number B 197134, having its registered office at 5, rue Eugène Ruppert, L-2453 Luxembourg. “Altice Lux Bis” ............................................. Altice Luxembourg FR Bis S.à r.l. (formerly known as Altice France Bis S.à r.l.), a private limited liability company (société à responsabilité limitée) incorporated under the laws of the Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register under Number B 196532, having its registered office at 5, rue Eugène Ruppert, L-2453 Luxembourg. “Altice France Holding” ............................... Altice France Holding S.A. (formerly known as Altice Luxembourg FR S.A.), a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register under Number B135296, having its registered office at 5, rue Eugène Ruppert, L-2453 Luxembourg. “Altice International” ................................... Altice International S.à r.l., a private limited liability company (société à responsabilité limitée) organized under the laws of the Grand Duchy of Luxembourg, formerly known as Altice VII S.à r.l. and registered with the Luxembourg Trade and Companies Register under Number B 143725, having its registered office at 5, rue Eugène Ruppert, L-2453 Luxembourg. “ATS France” ................................................ the consolidated French operations of Altice Technical Services S.A. (formerly Parilis S.A.), a public limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, and its subsidiaries. “Altice TV” .................................................... a subsidiary of Altice Europe which, together with its subsidiaries, encompasses Altice Europe’s content distribution division. “Altice USA” .................................................. Altice USA, Inc., a public company incorporated under the laws of Delaware and an affiliate of Altice Europe. “ARCEP” ....................................................... Autorité de Régulation des Communications Electroniques et des Postes, the French regulatory authority for electronic and postal communications. “Authority” ................................................... The International Stock Exchange Authority Limited. “Clearstream” ................................................ Clearstream Banking, société anonyme. “Companies” .................................................. (x) prior to the consummation of the Automatic Exchange, collectively Ypso Finance and the Company and (y) following the consummation of the Automatic Exchange, collectively the Company and the Altice France HoldCo. “Company ” ................................................... Altice France S.A. (formerly known as SFR Group S.A. and Numericable-SFR S.A.) is a French société