Vivendi takes €750m as buyers flock to bond
Vivendi, the French media and telecoms group, issued its first bond of the year on Tuesday, a day when markets were performing strongly and credit investors felt encouraged by the tightening of the previous day’s issues by Adecco and Kering.
Rated Baa2/BBB, with negative outlooks, Vivendi belonged to the same band of the credit spectrum as Adecco and Kering; even between the BBB (stable) rating of the luxury goods group and the Baa3/BBB rated Swiss employment services group.
Vivendi issued three euro deals totalling €2.25bn last year, and
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