Altice USA has successfully secured $1 billion through an asset-backed securitization (ABS) deal, notable for being the first in the broadband field to be backed by HFC infrastructure receivables. In collaboration with Goldman Sachs and TPG Angelo Gordon, the financing matures in January 2031. The secured receivables originate from Altice’s Bronx and Brooklyn areas, utilizing HFC networks. This contrasts with competitors like Frontier and Zayo, which have used fiber broadband assets for ABS deals. Altice is actively enhancing its HFC capabilities to compete in speed delivery.
The Altice deal marks a significant step in the broadband industry as it is the first to utilize asset-backed securitization (ABS) secured by HFC receivables.
Altice's loan facility, secured by receivables from its Bronx and Brooklyn service areas, emphasizes the potential of HFC networks despite the dominance of fiber broadband.
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