Vivendi: places E2.1bn bond issue

(CercleFinance.com) - Vivendi has successfully placed a 2.
1 billion bond issue. This bond placement consists of three tranches with terms of 3, 6 and 9.5 years, respectively.

The first tranche of 700 million euros has a coupon of 0.00% and is issued at a price of 99.67% of par value, offering a yield of 0.11%. The second tranche of 700 million euros has a coupon of 0.625% and is issued at a price of 99.912% of par value, yielding 0.64%. The third tranche of 700 million euros has a coupon of 1.125% and is issued at a price of 98.924% of par value, yielding 1.246%.

"This issue, which was oversubscribed more than 2.5 times, is intended to finance the proposed acquisition of M7 and allow the Group to take advantage of favorable market conditions as its E700 million bond issue will mature in December 2019," the group said.


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