French telecoms and media company Vivendi announced it signed a E1bn credit line with more than ten banks.
Media reports suggested that Vivendi approached a few banks directly offering to pay a margin of 55bp.
The new five-year facility refinances a…
French telecoms and media company Vivendi announced it signed a E1bn credit line with more than ten banks.
Media reports suggested that Vivendi approached a few banks directly offering to pay a margin of 55bp.
The new five-year facility refinances a three-year credit line for E1bn, which would have matured on 29 February 2011.
The company said that the refinancing would enable it to reinforce its financial security.
The initial three-year E1bn facility was one of the three tranches of a E3.5bn facility raised by Vivendi in 2008 and arranged by HSBC, Fortis, RBS and SG. The debt package also included a five-year E1bn trance and a E1.5bn one-year bridge loan.
