Virgin Media plans $1.25 billion multi-currency 10-year bullet offering; pricing Thursday

By Paul A. Harris and Aleesia Forni

Columbus, Ohio Oct. 24 - Virgin Media Finance plc expects to price $1.25 billion equivalent in dollar-denominated and sterling-denominated senior notes due Feb. 15, 2022 (expected ratings Ba2/BB-/BB+) on Thursday, a market source said.

The New York-based entertainment communications company was scheduled to hold an investor call at 11 a.m. ET on Wednesday.

J.P. Morgan Securities LLC is the joint physical bookrunner and the bill and deliver for dollar-denominated notes, while Goldman Sachs & Co. is the joint physical bookrunner and the bill and deliver for sterling-denominated notes.

Bank of America Merrill Lynch, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., HSBC Securities USA Inc., Lloyds Securities LLC, RBS Securities Inc. and UBS Securities LLC are joint bookrunners.

Proceeds from the Securities and Exchange Commission-registered, non-callable notes will be used to repay the company's outstanding dollar-denominated and euro-denominated senior notes due in 2016, as well as a portion of the company's outstanding dollar-denominated and sterling-denominated notes due in 2019.

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