New debt for Virgin Media
UK cable operator Virgin Media expects to net approximately £1.453bn (1.625bn) from its latest debt issue, due to mature in 2018. The company is offering a US$1bn (Â690m) dollar-denominated tranche and a £875m sterling trance in a private placement to qualified institutional buyers.
The company intends to use the proceeds from the offering to pre-pay existing debt.
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