Click here to close now.




















Welcome!

News Feed Item

Virgin Media Announces the Expiration and Successful Completion of Virgin Media Finance PLC’s Tender Offer for 9.50% Senior Notes due 2016 and 8.375% and 8.875% Senior Notes due 2019

Virgin Media Inc. (NASDAQ:VMED) (LSE:VMED) today announced the expiration and successful completion of the previously announced cash tender offer by its subsidiary Virgin Media Finance PLC (the “Company”) to purchase any and all of its 9.50% Senior Notes due 2016 and up to $250 million aggregate principal amount of its outstanding 8.375% and 8.875% Senior Notes due 2019 on the terms and subject to the conditions set forth in the offer to purchase dated October 10, 2012 and the related letter of transmittal. The tender offer expired at 11:59 p.m., New York City time, on November 7, 2012.

The table below sets forth the results of the tender offer for the 9.50% Senior Notes due 2016 and the 8.375% and 8.875% Senior Notes due 2019, according to information provided by Lucid Issuer Services Limited, the Information and Tender Agent, as of the expiration of the tender offer. As the aggregate principal amount of 8.375% and 8.875% Senior Notes due 2019 tendered exceeds the maximum tender amount, the amount of notes accepted for purchase will be prorated pursuant to the terms of the offer to purchase.

Description of Notes   CUSIP/ISIN/COMMON CODE  

Outstanding
Aggregate
Principal Amount

 

Principal Amount
Tendered

 

Percentage of
Outstanding
Principal
Amount
Accepted(3)

Dollar-denominated
9.50% Senior Notes
due 2016(1)

 

92769V AA7/
US92769V AA70

  $850,000,000   $818,574,000   96.30%

Euro Denominated
9.50% Senior Notes
due 2016(2)

 

XS0432072295 /
043207229

  €180,000,000   €161,005,000   90.88%

Dollar-denominated
8.375% Senior
Notes due 2019

 

92769V AB5 /
US92769VAB53

  $600,000,000   $279,871,000   15.48%

Sterling-
denominated
8.875% Senior
Notes due 2019

 

XS0464803765/
046480376

  £350,000,000   £293,055,000   27.58%

_________________

(1) Indicates total amount of dollar-denominated Senior Notes due 2016 tendered and accepted. No dollar-denominated 9.5% Senior Notes due 2016 were tendered after the Early Tender Deadline.

(2) Indicates total amount of euro-denominated 9.5% Senior Notes due 2016 tendered and accepted including €311,000 tendered and accepted after the Early Tender Deadline.

(3) Rounded to the nearest one-hundredth of a percent.

The Company has accepted for payment €311,000 aggregate principal amount of 9.50% Senior Notes due 2016 that have been validly tendered after the Early Tender Deadline; no dollar-denominated Senior Notes due 2016 were tendered after the Early Tender Deadline. In addition, the Company has accepted for payment $92,897,000 aggregate principal amount of 8.375% and £96,519,000 aggregate principal amount of 8.875% Senior Notes due 2019. The Company expects to make payment on all notes on or around November 8, 2012. The Company will redeem on November 29, 2012 any outstanding Senior Notes due 2016 pursuant to its redemption notice delivered on October 30, 2012.

This announcement is neither an offer to purchase nor the solicitation of an offer to sell any of the securities described herein, nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The tender offer was made solely pursuant to the offer to purchase dated October 10, 2012 and the related letter of transmittal.

Forward-Looking Statements

Virgin Media cautions you that statements included in this announcement that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Virgin Media's results to differ materially from historical results or those expressed or implied by such forward-looking statements. Certain of these factors are discussed in more detail under “Risk Factors” and elsewhere in Virgin Media's annual report on Form 10-K as filed with the U.S. Securities and Exchange Commission on February 21, 2012. There can be no assurance that the transactions contemplated in this announcement will be completed. Virgin Media assumes no obligation to update any forward-looking statement included in this announcement to reflect events or circumstances arising after the date on which it was made.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...