Vivendi completes early refi at 85bp

01 Apr 2013

French media firm Vivendi has completed a new €1.5bn five year credit line, paying an out-of-the-box margin of 85bp for the new loan.

The Baa2/BBB/BBB rated borrower, which owns Universal Music and Canal+, will use the facility to refinance early a deal of the same size maturing in May 2014. That existing three year loan was completed in May 2011 alongside one and three year revolvers of €1.5bn and €2bn respectively ...

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