Virgin Media’s $500m bond 10 times covered, tender launched

01 Mar 2012

Virgin Media, the UK entertainment and communications business, sold $500m of senior unsecured 2022 bonds on Tuesday, and attracted a $5bn book.

The deal was increased from a planned $400m and priced at the tight end of guidance with a 5.25% coupon.

“We are enormously pleased with the yield,” Rick Martin, group director, treasury and investor relations at Virgin Media, told EuroWeek. “The coupon we got on the senior secured 2021 ...

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