Vivendi Universal calls bonds exchangeable into Vinci

New York, March 16 - Vivendi Universal said it has called for redemption its bonds exchangeable into ordinary shares of Vinci.

Redemption is possible because Vinci stock has traded above the trigger price for 20 out of the 30 trading days ended March 14.

The bonds will be redeemed on April 13. Holders can convert the securities to stock up to March 23.

Vivendi Universal said it will issue a new bond with a five-year maturity to finance the redemption.

Vivendi, a Paris-based diversified media company, issued €527.4 million of the exchangeables in March 2001.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.