Cross-over Virgin cuts costs, narrows lending group

UK media and entertainment group Virgin Media has taken advantage of its enhanced credit ratings to amend its senior loans, reducing its borrowing costs and relying solely on relationship banks for its syndicated loans.

  • 23 May 2011

Virgin’s term loan ‘A’ and term loan ‘B’, which were paying 325bp and 375bp over Libor, will be merged into a single £750m term loan with a margin of 212.5bp. The remaining £25m of the loan balance will be repaid with cash.

The company’s 10 relationship banks have ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
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5 Credit Suisse 16,754.47 44 5.28%