Vivendi signs aggressive five year deal

French telecoms firm Vivendi signed a Eu1bn five year refinancing loan late last week after only a couple of banks backed away from the tight 55bp margin on offer.

  • 01 Oct 2010
The club facility was signed by 10 of the company’s relationship banks. Two existing lenders declined to participate when invited, said bankers close to the deal.Vivendi, rated Baa2/BBB/BBB, left many lenders appalled when it launched the deal in the summer with an out-of-the-box margin of 55bp. They accused ...

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