By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – Virgin Media Secured Finance plc negotiated private placement add-ons, totaling £255 million and $265 million, to three series of senior secured notes due 2030, according to a news release Friday.
The add-ons include
• £235 million of 4¼% notes that will be issued as an add-on to the £400 million of notes originally issued Oct. 15, 2019;
• $265 million of 4½% notes that will be issued as an add-on to the $650 million of notes originally issued June 29; and
• £30 million of 4 1/8% notes that will be issued as an add-on to the notes originally issued June 29.
Goldman Sachs International was the bookrunner.
Proceeds will be used to redeem the issuer’s sterling-denominated senior secured notes due 2025 that were issued under a March 2017 indenture and for general corporate purposes.
Virgin Media, a Reading, England-based telecom, is a subsidiary of Liberty Global.
| Issuer: | Virgin Media Secured Finance plc
|
| Securities: | Senior secured note add-ons
|
| Bookrunner: | Goldman Sachs International
|
| Trade date: | Oct. 23
|
| Settlement date: | Nov. 6
|
|
|
| 4¼% sterling notes
|
| Amount: | £235 million
|
| Maturity date: | January 2030
|
| Coupon: | 4¼%
|
| Original issue: | £400 million issued Oct. 15, 2019
|
|
|
| Dollar notes
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| Amount: | $265 million
|
| Maturity date: | Aug. 15, 2030
|
| Coupon: | 4½%
|
| Original issue: | $650 million issued June 29
|
|
|
| 4 1/8% sterling notes
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| Amount: | £30 million
|
| Maturity date: | Aug. 15, 2030
|
| Coupon: | 4 1/8%
|
| Original issue: | £450 million issued June 29
|
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