Vivendi is planning to exercise options to prepay €1bn (US$1.38bn) worth of 3.5% notes due July 2015 and €500m (US$690m) in 3.875% notes due November 2015.
The French telecoms and media conglomerate said in a statement that redemption of the bonds,…
Vivendi is planning to exercise options to prepay €1bn (US$1.38bn) worth of 3.5% notes due July 2015 and €500m (US$690m) in 3.875% notes due November 2015.
The French telecoms and media conglomerate said in a statement that redemption of the bonds, currently listed on the Luxembourg Stock Exchange’s regulated market, will take place on 11 November 2013. It will use cash-on-hand for the prepayments.
Vivendi is in the process of reorganising its business to focus on its media operations and cut its debt load, estimated at €17.4bn as of 30 June. The conglomerate is reportedly planning to spin off French mobile operator SFR next year and is close to completing the sale of its majority stake in Maroc Telecom for €4.2bn. It also recently sold its video game publisher Activision Blizzard for US$8.2bn.
