By Sarah Lizee
Olympia, Wash., July 25 – Virgin Media Ltd. subsidiary Virgin Media Secured Finance plc completed a private placement of £40 million additional 5¼% senior secured notes due 2029, according to a press release.
The notes are an add-on to the company’s £300 million 5¼% notes due 2029 originally issued on May 16.
Proceeds will be used to redeem 10% of the company’s 6¼% notes due 2029 on Aug. 4 at 103 as well as for general corporate purposes.
Virgin Media is a cable TV and internet service provider based in Hook, England.
| Issuer: | Virgin Media Secured Finance plc
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| Issue: | Senior secured notes add-on
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| Amount: | £40 million
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| Maturity: | 2029
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| Coupon: | 5¼%
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| Settlement date: | Aug. 1
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| Total issuance: | £340 million, including £300 million issued on May 16
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