French telecoms and media conglomerate Vivendi has issued a €1bn (US$1.3bn) bond in two tranches of €500m (US$670m).
The first tranche has a four-year maturity. It carries a coupon of 3.875% and priced at 99.673 to yield 3.965%.
The second tranche,…
French telecoms and media conglomerate Vivendi has issued a €1bn (US$1.3bn) bond in two tranches of €500m (US$670m).
The first tranche has a four-year maturity. It carries a coupon of 3.875% and priced at 99.673 to yield 3.965%.
The second tranche, which has a seven-year maturity, carries a 4.875% coupon and was priced at 99.536 to yield 4.955%.
TelecomFinance understand that the bookrunners on this transaction are: Barclays, BNP Paribas, BofA Merrill Lynch, Citi, CM-CIC, Crédit Agricole, Deutsche Bank, HSBC, Lloyds Bank, Mitsubishi UFJ, Mizuho, Natixis, Société Générale, RBS and Santander.
The company said that the transaction will enable it to lengthen the duration of its debt.
Fitch has affirmed Vivendi’s rating at ‘BBB’, while Moody’s has also affirmed the company’s rating at ‘Baa2’.
In early July, Vivendi already raised €1.75bn (US$2.3bn) in another two-tranche bond issue. BNP Paribas, Crédit Agricole, Deutsche Bank and Société Générale were coordinators and bookrunners.
The company said, at the time, that the transaction was part of an ongoing strategy to balance out its outstanding credit facilities and bond portfolio.
In early November, Vivendi denied reports that it was planning to acquire Telefonica’s stake in Telco S.p.A, the investment vehicle that holds a 22.4% stake in Italian incumbent Telecom Italia.
Vivendi currently has stakes in Brazilian Global Village Telecom (GVT), France’s SFR and Maroc Telecom.
