286
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 23. Borrowings and other financial liabilities
23.1.
Bonds
(in millions of euros)
Interest rate
(%)
Maturity
Dec. 31,
2013
Maturing during the following periods
Dec. 31,
2012
nominal effective
2014 2015 2016 2017 2018
After
2018
€750 million (July 2013)
2.375% 2.51% Jan. 2019
(a)
750
-
-
-
-
-
750
-
€700 million (December 2012)
2.500% 2.65% Jan. 2020
700
-
-
-
-
-
700
700
$550 million (April 2012)
2.400% 2.50% Apr. 2015
(b)
-
-
-
-
-
-
-
420
$650 million (April 2012)
3.450% 3.56% Jan. 2018
(c)
69
-
-
-
-
69
-
491
$800 million (April 2012)
4.750% 4.91% Apr. 2022
(c)
189
-
-
-
-
-
189
604
€1,250 million (January 2012)
4.125% 4.31% Jul. 2017 1,250
-
-
-
1,250
-
-
1,250
€500 million (November 2011)
3.875% 4.04% Nov. 2015
(d)
-
-
-
-
-
-
-
500
€500 million (November 2011)
4.875% 5.00% Nov. 2018
500
-
-
-
-
500
-
500
€1,000 million (July 2011)
3.500% 3.68% Jul. 2015
(d)
-
-
-
-
-
-
-
1,000
€1,050 million (July 2011)
4.750% 4.67% Jul. 2021 1,050
-
-
-
-
-
1,050 1,050
€750 million (March 2010)
4.000% 4.15% Mar. 2017
750
-
-
-
750
-
-
750
€700 million (December 2009)
4.875% 4.95% Dec. 2019
700
-
-
-
-
-
700
700
€500 million (December 2009)
4.250% 4.39% Dec. 2016
500
-
-
500
-
-
-
500
€300 million – SFR (July 2009)
5.000% 5.05% Jul. 2014
300 300
-
-
-
-
-
300
€1,120 million (January 2009)
7.750% 7.69% Jan. 2014
(a)
894 894
-
-
-
-
-
894
$700 million (April 2008)
6.625% 6.85% Apr. 2018
(c)
175
-
-
-
-
175
-
529
€700 million (October 2006)
4.500% 5.47% Oct. 2013
(e)
-
-
-
-
-
-
-
700
Nominal value of bonds
7,827 1,194
-
500 2,000 744 3,389 10,888
(a)
On July 9, 2013, Vivendi issued a €750 million bond, maturing in January 2019. This transaction enabled the refinancing of the bond issued
in January 2009, maturing in January 2014.
(b)
A USD/EUR foreign currency hedge (cross-currency swap) was set up to hedge this tranche denominated in US dollar with a 1.3082 EUR/USD rate,
or a €420 million counter value at maturity. On November 15, 2013, Vivendi exercised the full make-whole call and early redeemed this bond.
(c)
On October 25, 2013, Vivendi early redeemed $1,555 million (€1,150 million) in bonds, through tender offers:
–– $555 million (€411 million) on the $650 million bond issued in April 2012, initially maturing in January 2018;
–– $541 million (€400 million) on the $800 million bond issued in April 2012, initially maturing in April 2022; and
–– $459 million (€339 million) on the $700 million bond issued in April 2008, initially maturing in April 2018.
(d)
On November 11, 2013, Vivendi early redeemed (make-whole) the full amount of these two bonds.
(e)
This bond was redeemed in October 2013 upon its contractual maturity date.
The bonds denominated in euro are listed on the Luxembourg Stock
Exchange.
The bonds denominated in US dollar were converted into euro based
on the closing rate, i.e., 1.3730 EUR/USD as of December 31, 2013
(compared to 1.3244 EUR/USD as of December 31, 2012).
Bonds issued by the group contain customary provisions related to
events of default, negative pledge and, rights of payment (pari-passu
ranking). In addition, bonds issued by Vivendi SA contain an early
redemption clause in case of a change in control trigger if, as a result of
any such event, the long-term rating of Vivendi SA is downgraded below
investment grade status (Baa3/BBB-).
