Vivendi Gets EUR5 Billion Syndicated Loan To Finance SFR Deal
April 18 2011 - 6:22AM
Dow Jones News
French media giant Vivendi SA (VIVEF, VIV.FR) said Monday it
agreed on a syndicated loan worth EUR5 billion to finance the
acquisition of a 44% stake in French mobile phone operator SFR that
belonged to U.K. mobile phone company Vodafone Group PLC (VOD.LN)
and refinance existing debt.
MAIN FACTS:
- This loan will enable the company to increase its financial
security and extend the maturity of its debt. The banking syndicate
is made up of 15 banks.
- The loan is in three tranches: tranche A at EUR1.5 billion,
maturing end 2012; tranche B at EUR1.5 billion, 3 years maturity;
tranche C at EUR2.0 billion, 5 years maturity, refinancing a
previous syndicated loan of the same amount maturing in April
2012.
- Once this transaction has been completed and after the
acquisition of the 44% of SFR, Vivendi will be able, if necessary,
to call on at least €2 billion of available credit lines.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
inti.landauro@dowjones.com
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