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Virgin Media sets talk for £500 million equivalent two-part note sale
By Paul A. Harris
St. Louis, Nov. 3 - Virgin Media Finance plc set price talk for its £500 million equivalent two-part offering of 10-year senior unsecured notes (B2/B) on Tuesday, according to an informed source.
The New York City-based telecommunications firm talked the proposed dollar-denominated notes at the 8¾% area and talked the sterling-denominated notes at the 9¼% area.
The deal is set to price on Wednesday at the New York City market open.
Deutsche Bank Securities Inc., BNP Paribas Securities Corp., Calyon Securities, Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., RBS Securities Inc. and UBS Investment Bank are the underwriters for the Securities and Exchange Commission-registered deal.
The notes will come with five years of call protection.
Proceeds will be used to call the company's 8¾% notes due 2014.
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