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Virgin Media to redeem 10% of 5½%, 5 3/8%, 6% senior secured notes
New York, March 18 – Virgin Media Secured Finance plc will redeem 10% of its £430 million of 5½% senior secured notes due 2025, $1 billion 5 3/8% senior secured notes due 2021 and £1.1 billion of 6% senior secured notes due 2021.
All the redemptions will occur on March 31, and Virgin Media will pay 103% of par plus accrued interest to the redemption date, according to a notice from the company.
The redemptions are subject to the issuer obtaining new financing on satisfactory terms.
Virgin Media Secured Finance is an issuing subsidiary of Virgin Media Inc., a London-based cable operator owned by Liberty Global.
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