Vivendi Universal gets noteholder consents to NBC deal

New York, Nov. 21- Vivendi Universal (B1) said it had received the necessary noteholder consents to certain changes in the indentures of several series of its outstanding debt in connection with the previously announced planned combination of its Vivendi Universal Entertainment LLLP unit with General Electric Corp.'s broadcasting subsidiary, National Broadcasting Co. Inc.

Vivendi said that payments of consent fees will be made to holders of notes entitled to receive them only upon completion of the Vivendi Universal Entertainment transaction. It further said the transaction is subject to customary approvals from various regulatory agencies and is anticipated to be completed in the first half of 2004. If the Vivendi Universal Entertainment transaction is not consummated, no consent fees will be paid.

As previously announced, Vivendi, a Paris-based international media conglomerate, said on Nov. 7 that it had begun seeking the consent to the indenture changes from the holders of its $935 million of 9¼% notes due 2010, €325 million of 9½% notes due 2010, $975 million of dollar-denominated 6¼% notes due 2008 and €500 million of 6¼% euro-denominated notes due 2008.

It set 5 p.m. ET on Nov. 20 as the now-expired consent solicitation expiration deadline, subject to possible extension.

The company said adoption of the proposed amendments would require the consent of holders of a majority in outstanding principal amount of each series of the notes.

Vivendi said that following and subject to the completion of the Vivendi Universal Entertainment combination transaction with NBC, it would make consent payments of €1 per €1,000 of euro- denominated notes and $1 per $1,000 principal amount of dollar-denominated notes for which consents were properly furnished and not subsequently withdrawn by the consent deadline, provided that the information agent for the solicitation received the necessary consents to the proposed indenture changes, and provided that supplemental indentures putting the changes into effect were executed.

Citigroup Global Markets Inc. was solicitation agent for the consent solicitation (call 800 558-3745 or collect at 212 723-6106 or at +44 20 7986-8969). The information agent was Global Bondholder Services Corp. (866 470-3900 or 44 20 7864-9136; banks and brokers call 212 430-3774).

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