Virgin Media prices bond offer

UK cable operator Virgin Media has announced the pricing of its latest bond issue. The operator announced the pricing of the offering of approximately £715m (€797m) of equivalent of senior notes, due in 2019, split into a US$600m (€406m) dollar-denominated tranche and £350m sterling-denominated tranche.

The sale of the notes is expected to close on November 9. Virgin Media expects to net £689.4m from the offering, and will use the funds to redeem existing debt.