VM aims at loans after high yield relieves unsecured pressure

Virgin Media termed out some of its unsecured debt when it priced a high yield bond on Wednesday afternoon, with attention now turning to the UK cable firm’s £3.1bn of bank debt maturing in 2012.

  • 04 Nov 2009

The firm raised £715m equivalent through a high yield bond which it priced tighter than guidance on Wednesday afternoon, even after increasing the deal by £215m.The 10 year note is split between tranches of $600m and £350m, which yield 8.625% and 9.125% respectively.

The book was oversubscribed multiple times ...

Please take a trial or subscribe to access this content.

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

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.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,823 26 18.14
2 Bank of America Merrill Lynch (BAML) 8,207 26 10.77
3 Lloyds Bank 7,202 22 9.45
4 Citi 6,256 16 8.21
5 JP Morgan 5,220 8 6.85

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 105,474.10 301 10.96%
2 Bank of America Merrill Lynch 86,762.28 250 9.02%
3 JPMorgan 81,465.60 238 8.47%
4 Wells Fargo Securities 77,934.65 225 8.10%
5 Credit Suisse 63,570.21 165 6.61%