VIRGIN MEDIA INC
SymbolVMED

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Virgin Media Announces Pricing of £715 Million Equivalent of Senior Notes Due 2019

2009-11-04 11:05 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 the pricing of the offering of approximately £715 million equivalent aggregate principal amount of senior notes due 2019, split into a $600 million U.S. dollar denominated tranche and a £350 million sterling denominated tranche, of its wholly-owned subsidiary Virgin Media Finance PLC.

The notes will be guaranteed on a senior basis by Virgin Media Inc. and the intermediate holding companies of Virgin Media Finance PLC and on a senior subordinated basis by Virgin Media Investment Holdings Limited, the main borrower under Virgin Media’s senior credit facilities. The notes will rank pari passu with Virgin Media Finance’s outstanding senior notes due in 2014 and 2016. The sale of the notes is expected to close on November 9, 2009, subject to satisfaction of customary closing conditions.

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