Vivendi has successfully placed a €2.1 billion bond comprised of three tranches with maturities of three, six and nine and a half years.
The first tranche of €700 million has a coupon of 0.00% and was issued at a price of 99.67%, corresponding to a 0.11% yield.
The second of €700 million has a coupon of 0.625% and was issued at a price of 99.912%, corresponding to a 0.64% yield.
The third of €700 million has a coupon of 1.125% and was issued at a price of 98.924%, corresponding to a 1.246% yield.
Vivendi notes that the 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 favourable market conditions as its €700 million bond issue will mature in December 2019.
It adds that the bond was placed with institutional investors.
