VIRGIN MEDIA INC
SymbolVMED

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Amendments to Virgin Media’s Senior Facilities Agreement Approved by Lenders

2009-10-30 11:00 ET - News Release


Company Website: http://investors.virginmedia.com/phoenix.zhtml?c=135485&p=irol-irhome
LONDON -- (Business Wire)

Virgin Media Inc. (NASDAQ:VMED) (LSE:VMED), a leading UK entertainment and communications business, today announced that its senior lenders have approved the proposed amendments in relation to its senior facilities agreement. Virgin Media expects that the amendments will be signed and become effective shortly.

These amendments will provide Virgin Media with additional financial flexibility, which will support ongoing efforts to further strengthen its capital structure. The principal aim of the amendments is to permit the issuance of senior secured bonds, which would rank on a pari passu basis with the existing senior bank facilities, in order to refinance part of the existing senior bank facilities and diversify the sources of funding available to Virgin Media.

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