French media and telecoms group Vivendi has priced a €700m, seven-and-a-half-year bond to refinance existing debt.
The bond carries a coupon of 2.5% and priced at 99.265%, equal to a yield of 2.614%, according to a company statement.
Proceeds will be…
French media and telecoms group Vivendi has priced a €700m, seven-and-a-half-year bond to refinance existing debt.
The bond carries a coupon of 2.5% and priced at 99.265%, equal to a yield of 2.614%, according to a company statement.
Proceeds will be used to refinance an existing 4.5% coupon bond due in October 2013. It also enables Vivendi to maintain an average debt maturity profile of four years or more, as of 31 December, the company stated.
Launched under the company’s EMTN programme, the bond has been placed with institutional investors and will be listed on the Luxembourg Stock Exchange.
The lead managers for the issue were Mizuho, Natixis, Royal Bank of Scotland and Societe General CIB.
Moody’s has rated the bond ‘Baa2’
In January, Vivendi issued a €1.25bn bond with a 5.5-year maturity and, in April, it issued a €0.3bn bond with a nine-year maturity. In April and May, the company also issued a total US$2bn of bonds.
