Vivendi takes €700m pre-funding after break-up talk ebbs

Vivendi returned to the bond market on Tuesday for the first time since April to raise €700m, reaping the benefit of the continued rally in European credit. The French telecoms and media group rated Baa2 (stable)/BBB (negative) employed Mizuho, Natixis, Royal Bank of Scotland and Société Générale to launch a benchmark 7.1 year (January 2020) bond.

  • 30 Nov 2012

Price guidance of 135bp over mid-swaps was tightened to 130bp, where the issuer priced a €700m deal.

"It was good to see Vivendi issue more than €500m, because they’ve had some negative headlines in the past few months," said a banker away from the deal. "It’s very much a ...

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5 BNP Paribas 3,721.14 15 5.26%

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5 Mitsubishi UFJ Financial Group 1,455.84 5 3.44%

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5 Wells Fargo Securities 882.72 7 6.65%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 2,322.28 8 5.12%
2 UniCredit 1,892.23 6 4.17%
3 Bank of America Merrill Lynch 1,585.30 5 3.49%
4 ING 1,477.05 5 3.25%
5 Mitsubishi UFJ Financial Group 1,455.84 5 3.21%