Mark Andy prices $135 million secured notes; Virgin Media wraps £50 million financing

Spokane, Wash., June 14 – Mark Andy and Virgin Media concluded financings in the private placement market on Thursday.

Mark Andy priced a $135 million issue of five-year senior secured notes at par to yield 9½% on Thursday, according to a syndicate source.

The reoffer price came on top of price talk. The yield printed on top of yield talk in the 9½% area.

William Blair & Co. LLC was the placement agent.

The issuing entity is MAI Holdings Inc., which does business as Mark Andy.

The Chesterfield, Mo.-based provider of specialized solutions for the packaging and label industry plans to use the proceeds to refinance debt.

Meanwhile, Virgin Media Receivables Financing Notes II DAC announced it completed a private placement of £50 million of 5¾% receivables financing notes due 2023.

The notes were issued and sold as an add-on to the existing £300 million 5¾% receivables financing notes due 2023 that were originally issued on April 4.

Proceeds from the additional notes, together with proceeds from the existing notes, will be used to purchase eligible accounts receivable of Virgin Media Investment Holdings Ltd., a subsidiary of Virgin Media Inc., and some of its subsidiaries and to make revolving loans to Virgin Media Investment Holdings.

Virgin Media, a subsidiary of Liberty Global plc, is a Hook, England-based provider of broadband, TV, mobile phone and home phone services.

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