Vivendi: Signs EUR5 Billion Loan With 17 Banks
May 16 2011 - 11:50AM
Dow Jones News
French entertainment-to-telecoms conglomerate Vivendi (VIV.FR)
Monday said it has signed a new bank loan for EUR5 billion.
MAIN FACTS:
- Vivendi said is has "finalized and signed a new bank loan with
17 banks for a total amount of EUR5 billion."
.
- "This loan facility," it said, "will enable the company to
optimize the management of its debt at the time of the 44% stake
acquisition in SFR," its telecoms unit.
.
- "After this transaction, the dividend payment and the
acquisition of the 44% stake in SFR, Vivendi could, at any time,
call on at least EUR2 billion of undrawn credit lines. The average
maturity of the company's debt will grow from 4 to 4.5 years," the
company added.
.
- .
- By Paris Bureau, Dow Jones Newswires; +331-4017-1756;
adam.mitchell@dowjones.com
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