PARIS Vivendi (VIV.PA) said it would offer to buy up to $2.7 billion of its outstanding U.S. dollar-denominated debt after it received $8.2 billion in cash from the sale of most of its stake in videogame unit Activision Blizzard (ATVI.O).
The French group said it was offering to buy its $650 million of 3.45 percent notes due in 2018, $700 million of 6.625 percent notes due in the same year, and $800 million of 4.75 percent notes due in 2022.
It will also redeem all of its $550 million of 2.4 percent notes due in 2015, Vivendi said in a statement on Wednesday.
Bank of America Merrill Lynch and Deutsche Bank Securities will serve as deal managers for the offer.
Vivendi has sold most of its stake in the publisher of the blockbuster "Call of Duty" videogame franchise in a move that paves the way for a broader split of the French conglomerate's media and telecoms assets.
(Reporting by James Regan; Editing by Blaise Robinson)