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More banks join Vivendi loan

Vivendi's approved loan of EUR 3.5 billion for the deals including the Activision Blizzard merger and the acquisition of telecoms company Neuf Cegetel, announced last week, has had its backing syndicate expanded.

Vivendi's approved loan of EUR 3.5 billion for the deals including the Activision Blizzard merger and the acquisition of telecoms company Neuf Cegetel, announced earlier in the week, has had its backing syndicate expanded.

According to a Reuters report the initial move was underwritten by Bookrunners Societe Generale, HSBC, Royal Bank of Scotland and Fortis Bank.

Those four have now been joined in the syndicate by Bank of America, Barclays, Credit Mutuel-CIC and Natixis, with further expansion of the syndicate expected shortly.

The loan includes a bridge of EUR 1.5 billion to cover the Neuf Cegetel deal, with the remaining EUR 2 billion acting as a revolving credit facility, and adds to the company's existing cash and credit resources.

The Activision Blizzard deal will have to be cleared by competition authorities before it can be finalised, although no complications are expected and completion should go through in the summer of 2008.

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