Vivendi offers redemption at par to holders of bonds due 2019, 2024

By Sarah Lizee

Olympia, Wash., April 10 – Vivendi said it is offering redemption at par to the holders of its €700 million bonds due December 2019 and its €850 million bonds due September 2024.

The offer is being made in connection with the company’s recent bondholder meetings relating to the conversion of the company’s legal form through the adoption of a European company legal form.

Holders of the company’s €1 billion bonds due May 2021, €500 million bonds due May 2026 and €600 million bonds due November 2023 voted to approve the proposal.

Due to a number of abstentions, however, the proposed conversion was not approved by holders of the 2019 and 2024 bonds.

At a meeting held April 1, Vivendi’s management board decided to override the decision of the 2019 and 2024 bondholders and to offer redemption at par to those that request redemption within three months of April 10.

Vivendi is an entertainment, broadcast and telecommunications company is based in Paris.

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