UK-based communications company Virgin Media has launched a new minimum USD750 million senior secured Term Loan due 31 January 2025, the company said.
Proceeds of the loan, if successful, will be used to refinance the existing GBP100 million Term Loan D due June 2022, a portion of the GBP990 million 6.0% Senior Secured Notes due April 2021, a portion of the USD900 million 5.375% Senior Secured Notes due April 2021 and to pay related transaction costs.
The transaction is consistent with the company´s policy to maximise tenor across our capital structure.
Virgin Media offers four multi award-winning services across the UK and Ireland: broadband, TV, mobile phone and landline.
The company is part of international cable company Liberty Global, with operations in more than 30 countries.