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Record-breaking Numericable bond heralds increase in European M&A
Numericable and Altice attracted overwhelming demand for the largest-ever high-yield bond offering to fund the acquisition of French mobile phone operator SFR from Vivendi. Even more remarkable than the financing was the take-over battle that led to it. The availability to leveraged acquirers of such high volumes of funding at low spreads will energize the European M&A market.
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