Virgin Media Inc. Issue of Debt
30 Octubre 2012 - 9:30AM
UK Regulatory
TIDMVMED
Virgin Media Announces the Successful Closing of $900 million
and GBP400 million Senior Notes Offering
LONDON, October 30, 2012 - Virgin Media Inc. ("Virgin Media")
(NASDAQ:VMED) (LSE:VMED) today announced the closing of its
subsidiary Virgin Media Finance PLC's (the "Issuer") previously
announced offering of $900 million aggregate principal amount of
4.875% senior notes due 2022 and GBP400 million aggregate principal
amount of 5.125% senior notes due 2022 (together, the "2022
Notes"). The 2022 Notes are guaranteed by Virgin Media and certain
of Virgin Media's subsidiaries, rank pari passu with the Issuer's
outstanding senior notes due in 2019 and 2022 and are effectively
subordinated to any secured indebtedness of the Issuer.
Virgin Media intends to use the net proceeds from the notes
offering to repurchase its outstanding 9.50% senior notes due 2016
and $250 million aggregate principal amount of its outstanding
8.375% dollar- and 8.875% sterling-denominated senior notes due
2019 pursuant to Virgin Media Finance PLC's tender offer, announced
October 10, 2012, any subsequent redemption of the senior notes due
2016 and to pay related fees and expenses. The early settlement
date for the 9.50% senior notes due 2016 which have been validly
tendered prior to the early tender deadline and not withdrawn
pursuant to the tender offer is expected to be October 31,
2012.
This announcement is neither an offer to purchase nor the
solicitation of an offer to sell any of the securities described
herein, nor shall there be any offer or sale of such securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful. A registration statement relating to the 2022 Notes
became effective on February 27, 2012, and the 2022 Notes offering
was made by means of a prospectus supplement.
Forward-Looking Statements
Virgin Media cautions you that statements included in this
announcement that are not a description of historical facts are
forward-looking statements that involve risks, uncertainties,
assumptions and other factors which, if they do not materialize or
prove correct, could cause Virgin Media's results to differ
materially from historical results or those expressed or implied by
such forward-looking statements. Certain of these factors are
discussed in more detail under 'Risk Factors' in the prospectus
supplement and elsewhere in Virgin Media's annual report on Form
10-K as filed with the U.S. Securities and Exchange Commission on
February 21, 2012. There can be no assurance that the transactions
contemplated in this announcement will be completed. Virgin Media
assumes no obligation to update any forward-looking statement
included in this announcement to reflect events or circumstances
arising after the date on which it was made.
For further information, contact:
Virgin Media Investor Relations
Richard Williams: +44 (0) 1256 753037 /
richard.williams@virginmedia.co.uk
Vani Bassi: +44 (0) 1256 752347 /
vani.bassi@virginmedia.co.uk
Phil Rudman: +44 (0) 1256 752677 /
phil.rudman@virginmedia.co.uk
Media Contacts
Tavistock Communications
Lulu Bridges: +44 (0) 20 7920 3150 /
lbridges@tavistock.co.uk
Matt Ridsdale: +44 (0) 20 7920 3150 /
mridsdale@tavistock.co.uk
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