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Virgin Media talks £350 million eight-year receivables-backed notes in 5½% area; pricing Thursday
By Paul A. Harris
Portland, Ore., Sept. 29 – Virgin Media Receivables Financing talked its £350 million offering of eight-year receivables-backed notes (B) to yield in the 5½% area, according to a market source.
The deal is expected to price on Thursday.
Credit Suisse, Citigroup, Deutsche Bank and ING are the lead managers.
The notes come with three years of call protection.
Proceeds will be used to buy accounts receivable and inventory.
The prospective issuer is a Dublin, Ireland-based special purpose vehicle of Virgin Media Ltd.
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