Vivendi to raise $1.4bn in bond issue

Vivendi is planning to raise around $1.4 billion in a US bond issue, to assist its acquisitions of Activision and French telecoms company Neuf Cegetel.

The French media giant – and parent of Vivendi Games Universal – said it will raise the $1.4 billion through the issue of five- and ten-year US bonds launched yesterday.

According to Forbes, the company said it wants to rebalance its debt structure between bank debt and bond debt and to lengthen its average maturity.

The bonds will also allow the publisher to spread its debt across different currencies as well.

The expected deadline for the bond purchases arriving this Friday.

No detail on a final date for the Vivendi acquisition of Activision has been set, but it is expected to come in the first half of this calendar year.