15 join Vivendi syndicate
Some 15 banks joined the syndicate of the new Eu5bn facility for French telecoms firm Vivendi that was signed last week. The loan for the Baa2/BBB rated borrower comprises a Eu1.5bn line maturing at the end of 2012, a Eu1.5bn revolver with a three year maturity and a Eu2bn five year revolving credit facility.
The Eu2bn line will be used to refinance a revolver of the same size set to mature in April 2012. The borrower also has an outstanding Eu2bn seven year facility due to expire in August 2013.
That outstanding deal was also agreed with a group of 15 banks.
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