据知情人士透露，Altice International 与其债权人就重组公司资本结构的谈判正逼近周二的最后期限，因为一份保密协议即将到期。
By Irene García Pérez, Giulia Morpurgo and Daniele Lepido Negotiations between Altice International and its creditors to rejig the company’s capital structure are nearing a Tuesday deadline as a non-disclosure agreement is set to expire, according to people familiar with the matter.
该公司一直在与一组贷款人就重组其约 80 亿欧元（约合 89 亿美元）的债务堆进行谈判，该组贷款人本月早些时候在纽约起诉了该公司，指控亿万富翁 Patrick Drahi 拥有的该公司去年底非法将其大部分资产转移到了他们的触及范围之外。
The company has been negotiating a revamp of its roughly €8 billion ($8.9 billion) debt pile with a group of lenders that sued it in New York earlier this month, alleging that the firm owned by billionaire Patrick Drahi unlawfully shifted most of its assets out of their reach late last year.
知情人士称，保密协议可能会在截止日期后延长，他们要求不具名，因为讨论的是私人信息。
The non-disclosure agreement could be extended beyond the deadline, some of the people familiar said, asking not to be identified discussing private information.
诉讼委员会持有的债务报价较委员会外持有的证券溢价，这是基于预期所谓的“诉讼委员会成员”将获得更好的本金回收。
The debt held by the litigation committee has been quoted at a premium compared to securities held by those outside of the group, based on expectations that the so-called litco members would get a better recovery of their principal.
但如果双方未能达成协议或延长保密协议，Altice International 将发布清洗材料——即此前未公开的财务信息——这可能会压缩谈判贷款人债务的溢价，部分知情人士表示。其他人认为，即使披露了这些信息，溢价可能也不会受到影响，这些债权人仍将获得相对较强的回收。
But if the parties don’t reach a deal or extend the NDA, Altice International will publish cleansing materials — financial information that wasn’t previously public — which could compress the premium on negotiating lenders’ debt, some of the people said. Others think that even with the disclosures, the premium may not be affected and that those creditors are still set for relatively stronger recoveries.
领导与公司谈判并寻求比其他债权人更好条款的诉讼委员会成员包括 Arini Capital Management、Diameter Capital Partners、Invesco Ltd.、King Street Capital Management、Silver Point Capital、Sona Asset Management 和 Elliott Investment Management。
The litigation committee leading negotiations with the company and pursuing better terms than other creditors includes Arini Capital Management, Diameter Capital Partners, Invesco Ltd., King Street Capital Management, Silver Point Capital, Sona Asset Management and Elliott Investment Management.
虽然谈判具有建设性，但各方仍需弥合分歧，以确定给予Drahi和债权人的补偿，知情人士部分透露。本月初Drahi与其债权人在Optimum Communications Inc.（前身为Altice USA）的谈判中也出现类似僵局，但双方正逐步接近达成协议，以解决诉讼并将这家电信公司的控制权移交给债权人。
While the talks have been constructive, the parties still need to bridge a gap to determine the compensation for Drahi and the lenders, some of the people said. There was a similar sticking point in the discussions between Drahi and his creditors in Optimum Communications Inc. — formerly Altice USA — earlier this month, but the parties are closing in on an agreement to resolve litigation hand over control of the telecommunications company to lenders.
另一个正在讨论的问题是如何处理Elliott去年向Altice International一家控股公司提供的贷款，该贷款用于再融资超过5亿欧元的债务，知情人士透露。据彭博此前报道，这笔资金用于偿还一家关系银行的贷款，并使公司更容易将部分资产置于债权人触及不到的地方，因为早期融资的条款会使这种操作变得复杂。
Another matter being discussed is how to address a loan that Elliott provided last year to a holding company of Altice International to refinance more than €500 million of debt, some of the people familiar said. The money was used to repay a loan with a relationship bank, and made it easier for the company to move some of its assets out of the reach of creditors because the terms of the earlier financing would have complicated such a maneuver, Bloomberg previously reported.
Altice International、诉讼债权人团体和Elliott的代表均拒绝置评。
Representatives for Altice International, the litco group and Elliott declined to comment.