Vivendi Completes Refinancing Of 2 Credit Lines Worth EUR2 Billion
22 December 2011 - 4:27AM
Dow Jones News
French media company Vivendi SA (VIV.FR) successfully completed
the anticipated refinancing of two bank credit lines for a total
amount of EUR2 billion, the company said Wednesday.
The two lines--a EUR1.5 billion Vivendi credit line maturing in
December 2012 and a EUR492 million credit line for French mobile
phone company SFR maturing in March 2012--have been replaced by a
new five-year EUR1.1 billion credit line, which is replacing the
two existing credit lines that are maturing within the next 12
months.
The transaction "enables the group to strengthen its financial
structure thanks to the extension of its average debt maturity,
which will be over four years on Dec. 31, 2011, and by pursuing its
total external debt group consolidation policy at holding company
level after the 44% acquisition of SFR, which was finalized in June
2011," the company said.
-By Gabriele Parussini, Dow Jones Newswires; +33 (0)1 4017 1739;
gabriele.parussini@dowjones.com
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