Altice SFR France - comment

We expect the recommencement of articles on Altice SFR France over the coming days as investors refocus on the imminent restructuring.  The €381m of Jan 2025 Senior bonds were due to be repaid yesterday, but we have conflicting reports of confirmed and non-confirmed receipts of monies.  The NDA expired last week but it appears the majority of parties are willing to re-engage with the Company.  There is a further €320m of bonds maturing on the 15th of February, but we expect negotiations to at least commence prior to their repayment.