21st Nov 2025 11:58
(Alliance News) - Canal+ SA on Friday said it may offer a five-year senior unsecured bond in its "inaugural" transaction of this type.
The stock was trading 6.0% higher at 244.60 pence per share on Friday in London.
The Paris-based media and telecommunications conglomerate said it BNP Paribas, BofA Securities, Credit Agricole CIB, JP Morgan and Societe Generale as joint global co-ordinators; and Barclays, HSBC, IMI - Intesa Sanpaolo and ING as joint active bookrunners, to arrange a series of fixed-income investor calls which will commence on Monday.
Canal+ said it may subsequently follow these with a senior unsecured bond offering with a five-year maturity, subject to market conditions.
The firm intends to use the net proceeds, if it issues the note, for "general corporate purposes". These include refinancing part of an outstanding EUR1.46 billion bridge facility, which Canal+ entered to secure funds for its acquisition of South African media and entertainment company MultiChoice Group Ltd. Some of the potential bond offering's global co-ordinators and joint bookrunners are lenders under the facility, Canal+ said.
Canal+ increased its stake in MultiChoice to over 94% in October, and is proceeding to 'squeeze out' the remaining shareholders to get 100% ownership. MultiChoice shares were suspended from trading on the JSE and A2X earlier this month, and will formally exit both indices on December 10.
Canal+'s takeover of MultiChoice will conclude a process that started early in June last year when it increased its offer to ZAR125 per share, and the combined group will serve more than 40 million subscribers across nearly 70 countries in Africa, Europe and Asia.
Also, Canal+ announced on Thursday that it has renewed 100% of exclusive rights to UEFA club competitions in France until 2031.
Chief Executive Officer Maxime Saada said the renewals allow Canal+ to "further [strengthen] our position as the leading global broadcaster of UEFA club competitions".
"For the next six years, Canal+ will continue to offer exclusive and complete coverage of the UEFA Champions League, Europe's most prestigious football competition, as well as the UEFA Europa League and the UEFA Conference League," Saada added.
By Emma Curzon, Alliance News reporter
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