Narrative
Full Description
Project narrative
On October 29, 2014, a syndicate of 18 banks -- including ICBC -- signed an agreement with Vivendi to amend and extend the borrower's previous EUR 1.5 billion revolving credit facility from 2014 (captured via Record ID#101810). The amended facility has an aggregate value of EUR 3.5 billion, including a EUR 2 billion revolving credit facility and a EUR 1.5 billion swingline facility. The facility has a maturity of five years, with two one-year extension options. The new agreement allows for the loan to be drawn in USD, reducing the cost of the (unknown) margin and other borrowing fees. A total of 18 banks participated in the lending syndicate, including ICBC, Bank of America Merrill Lynch International Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Banque Fédérative du Crédit Mutuel, Barclays Bank PLC, BNP Paribas, Citibank International plc, Commerzbank Aktiengesellschaft, Filiale Luxembourg, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial, Crédit Suisse International, Deutsche Bank Luxembourg SA, Goldman Sachs International Bank, HSBC France, Mizuho Bank Ltd., Natixis, The Royal Bank of Scotland plc and Société Générale.
Staff comments
1. AidData is unable to ascertain the individual contributions made by each lender to the facility, including whether each bank contributed to both tranches, therefore equal contributions to both tranches have been assumed.