Lenders back amendments to Virgin Media’s 2010 deal

Virgin Media has gained approval for proposed amendments to its March 2010 senior credit facilities from at least 10 lenders — representing around 57% of the agreements’ voting rights. Remaining lenders have until February 14 to respond.

  • 04 Feb 2011

Virgin is offering a 15bp fee to lenders that agree to delay, until June 2015, a £200m amortisation payment due in June 2014 on its £1bn term loan ‘A’.

A fee of 20bp will also be paid to those who agree to certain amendments intended to give Virgin ...

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