06:12 AM EDT, 09/27/2024 (MT Newswires) -- Apollo Global Management ( APO ) is among the funds Altice France has approached about raising new debt to repay approaching maturities, Bloomberg News reported Friday, citing unnamed people with knowledge of the matter.

Altice has been discussing this option with funds that aren't existing creditors, the report said, adding that the new debt would be secured with assets in unrestricted subsidiaries.

The telecom firm is currently working to slash its 24 billion euro ($26.8 billion) debt pile. Secured creditors have rejected Altice's request to reduce the face value of their holdings by 20%, according to Bloomberg.

Apollo and Altice did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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