Virgin inflates crossover deal to £960m

24 Feb 2011

Virgin Media, the UK cable firm, has increased the planned size its bond from £750m equivalent to £959m, after investment grade accounts piled into the crossover deal on Thursday.

The borrower launched its 10 year non-call life senior secured transaction on Wednesday. Guidance on the note, rated Baa3/BBB-/BBB-, was released on Thursday morning at Gilts plus 200bp-210bp for the sterling piece and 187.5bp-200bp over Treasuries for the dollar tranche.

Virgin was set to print £650m and $500m, each ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.