Virgin becomes latest borrower to ask for waiver
UK company Virgin Media (formerly NTL) this week asked lenders for a waiver to its £4.32bn leveraged loan. Virgin will pay a fee to creditors who agree to the amendment, which will defer amortization payments until June 2012. Virgin follows other borrowers such as Yell Group and Amadeus in seeking a waiver. The former succeeded, while the latter, which would not pay lenders an extra fee, failed.
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