Vivendi Universal euro tranche talked at 50 basis points behind dollar portion

By Paul A. Harris

St. Louis, April 2 - The euro tranche of Vivendi Universal's €1 billion seven-year senior notes deal is talked at 50 basis points behind the dollar piece, according to a syndicate source.

Price talk of 9¼%-9½% emerged Tuesday on the dollar tranche.

The deal is set to price Thursday.

Tranche sizes remain to be determined.

Goldman Sachs & Co., JP Morgan, Banc of America Securities, Royal Bank of Scotland and Salomon Smith Barney are joint bookrunners. BNP Paribas, Credit Lyonnais, S.G. Cowen, Credit Agricole and Natexis Banques Populaires.

The Rule 144A/Regulation S notes are non-callable for four years.

Proceeds will be used to refinance debt.

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