NEW YORK — Vivendi Universal said Tuesday that its Vivendi Universal Entertainment has secured a new $920 million five-year loan that will be used to refinance the outstanding portion of a chunk of its $1.62 billion bridge loan from last year.
VUE securitized its film slate in March to finance the balance of the loan.
Company said the offering was oversubscribed, with more than 80 investors participating in the loan.
Moody’s rated the bonds Ba2 while Standard & Poors assigned BB+.
Analysts say Viv U may increasingly look to reduce the cost of its debt load, which could reduce its reliance on cash from asset sales as it looks to regain investment-grade debt.