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COMMUNICATIONS: Vivendi Secures Financing For Bond Redemptions On Group Split

COMMUNICATIONS
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  • Vivendi has secured EUR 2bn in structured financing using cash-settled derivatives on UMG shares, with pledges on UMG, Telefonica, Telecom Italia, and MediaForEurope shares.
  • Financing agreements, maturing in Sept 2026 (extendable by one year), are intended for redemption of all outstanding bonds as soon as possible if the Group split is approved.
  • Financing proceeds require to first cancel existing syndicated and bilateral revolving facility agreements.
  • Decision on split project could be made in late Oct 2024, subject to a two-thirds shareholder vote at an EGM in Dec 2024.
  • https://www.vivendi.com/en/press-release/vivendi-enters-into-structured-financing-agreements-to-cover-the-potential-redemption-of-its-bonds/
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  • Vivendi has secured EUR 2bn in structured financing using cash-settled derivatives on UMG shares, with pledges on UMG, Telefonica, Telecom Italia, and MediaForEurope shares.
  • Financing agreements, maturing in Sept 2026 (extendable by one year), are intended for redemption of all outstanding bonds as soon as possible if the Group split is approved.
  • Financing proceeds require to first cancel existing syndicated and bilateral revolving facility agreements.
  • Decision on split project could be made in late Oct 2024, subject to a two-thirds shareholder vote at an EGM in Dec 2024.
  • https://www.vivendi.com/en/press-release/vivendi-enters-into-structured-financing-agreements-to-cover-the-potential-redemption-of-its-bonds/