Vivendi says retail sales raise convertible to €1 billion

New York, Nov. 20 - Vivendi Universal said the three-day retail offering of its convertible notes to individual investors in France resulted in the size being increased by €115.5 million to €1 billion.

Vivendi previously sold €884.5 million of the 8.25% mandatory convertibles to institutional investors, including exercise of the €114.5 million greenshoe.

The deal priced on Nov. 14 with an 8.25% coupon and a 7.7% initial conversion premium.

Bookrunner for the offering was Deutsche Bank. BNP Paribas, Credit Suisse First Boston and SG Investment Banking were also included in the syndicate. The notes were offered to institutional investors outside the U.S., Canada and Japan.

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