Universal Music Group Plans €1B Bond Sale After Ackman Rejection
Universal Music Group is preparing a €1 billion two-part bond sale on June 8, following its rejection of Bill Ackman's €56 billion takeover bid. The offering includes 4-year and 10-year tranches, each €500 million, to refinance debt and fund corporate activities. The company holds a Baa1 rating from Moody's and BBB+ from S&P. It has a €1 billion bridge loan maturing in late July and a €500 million bond due in 2027. BNP Paribas and Credit Agricole CIB are global coordinators; bookrunners include IMI Corporate & Investment Banking (Intesa Sanpaolo), Mediobanca, Mizuho, Morgan Stanley, Santander, and Societe Generale. Ackman recently sold his €1.42 billion stake after the failed bid.
Key facts
- Universal Music Group plans a €1 billion two-part bond sale on June 8.
- The bond includes 4-year and 10-year tranches, each €500 million.
- The company rejected Bill Ackman's €56 billion takeover bid.
- Ackman sold his €1.42 billion stake in Universal Music.
- Universal Music is rated Baa1 by Moody's and BBB+ by S&P.
- It has a €1 billion bridge loan maturing in late July.
- BNP Paribas and Credit Agricole CIB are global coordinators.
- Bookrunners include IMI, Mediobanca, Mizuho, Morgan Stanley, Santander, and Societe Generale.
Entities
Institutions
- Universal Music Group
- Moody's Ratings
- S&P Global Ratings
- Bloomberg
- BNP Paribas
- Credit Agricole Corporate & Investment Banking
- IMI Corporate & Investment Banking
- Intesa Sanpaolo
- Mediobanca
- Mizuho Financial Group
- Morgan Stanley
- Banco Santander
- Societe Generale
Locations
- Netherlands
- Amsterdam